S&P: IAC unaffected

Standard & Poor's said its corporate credit rating on IAC/InterActiveCorp. (BBB-/stable) is not currently affected by subsidiary Ticketmaster's decision to halt talks with Live Nation Inc. on a new long-term agreement.

The agency said that events at venues owned by Live Nation and its House of Blues subsidiary generated about 17% of Ticketmaster's revenue in 2006.

Customer concentration, otherwise, is minimal, the agency noted, adding that Ticketmaster's current agreement with Live Nation runs through 2008 and the agreement with House of Blues, which preceded its acquisition by Live Nation, expires in 2009.

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