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CBS Invests in TicketReserve

CBS has announced that they are investing in TicketReserve, an online ticket marketplace that allows consumers to purchase live event tickets at face value.

"CBS's sports programming „Ÿ both on air and online „Ÿ evokes passion in millions of fans across the country," said Joe Ianniello, Senior Vice President and Chief Development Officer of CBS Corporation.  "TicketReserve allows us to connect with our audience in yet another way, while offering leagues the potential of an exciting new revenue stream.  And going forward, we believe that TicketReserve can integrate with our non-sports programming as well. It also represents another strategic investment to extend our traditional businesses into the Interactive landscape."

CBS Sports, SportsLine, CSTV and other CBS properties are hoping to expand their presence in live event properties. In addition, CBS will provide TicketReserve with marketing, broadcasting and online resources to help the web marketplace expand their business.