Bremen-based ticket marketer CTS Eventim and Swiss media company Ringier in Zurich have signed an agreement to establish a joint venture.

According to Klaus-Peter Schulenberg, CEO of CTS Eventim, the purpose of this transaction is to gain leadership in the Swiss ticketing market. The joint venture will be established as a Swiss joint stock company in Zurich and be known as Eventim CH AG. It is to commence business operations in February 2010. The new company will reinforce Ringier's Entertainment, Electronic Media & Events division, which also includes Swiss concert and event promoter Good News.

"As a ticket marketer for live events and an organizer of live entertainment, CTS Eventim AG will be contributing to the joint venture its experience, technologies and software solutions as well as all of its multimedia resources, customer relations and infrastructure including call centers," said Schulenberg in a statement.

At the same time, the exclusive arrangements with concert promoter Good News will be secured via Ringier. Both companies will each hold 50% of the joint venture's capital and will also be seeking to market third-party events.

"Eventim CH AG will benefit from the collaboration between two market leaders," added Schulenberg. "In this way, we are laying the best possible foundations for a success story in Switzerland."

Marc Walder, the CEO of Ringier Switzerland, added: "The establishment of this joint venture is of great importance for Ringier as we will strengthening our entertainment activities. We have in CTS Eventim an experienced and successful partner by our side."

CTS Eventim AG sells over 70 million tickets a year in Europe for over 100,000 events.

"In addition to more than 8,000 box offices across Europe, Internet-based selling is increasingly growing in importance, particularly via the portals and," says Schulenberg.

Ringier AG is a multinational media company with 8,000 employees in 10 countries. Ringier generated sales of 939 million Swiss francs.