Newly dubbed Ticketmaster Entertainment has reported third-quarter revenues of $339.2 million, up from revenues of $292.5 million (16%), during the same period last year.

The revenue growth was primarily driven by a 2% increase in revenue per primary ticket and the 2008 acquisitions of ticketing companies TicketsNow and Paciolan, according to Ticketmaster Entertainment, which held a conference call today (Nov. 10) with investors.

Ticketmaster Entertainment's third-quarter net income was $9.6 million, down from a net profit of $40.5 million, during the same period last year. The decrease in net reflects lower interest income and higher interest expense from debt issued in connection with the IAC spin-off, along with a higher effective tax rate, according to the company.

Ticketmaster Entertainment sold 33.7 million tickets during the third quarter, compared to 34.2 in the year prior. Gross value of tickets sold during this quarter was $2.06 million, up 8% ($1.9 million) over the same period last year.

Third-quarter EBITDA was $57.3 million, down 16% ($68.1 million) for the prior year. The decrease is a result of royalty expense, severance charges and public company costs during the quarter, according the company.

The quarterly report arrives more than two months after Ticketmaster's spin-off from parent company IAC. Ticketmaster Entertainment, which recently acquired a controlling equity interest in Irving Azoff's Front Line Management Group, now operates as a free-standing, publicly traded company.

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