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To: the Chief who wrote (5363)	1/12/1999 8:41:00 AM
From: TFF	Read Replies (1) of 37507

Ticketmaster-CitySearch buys auction site By Tim Clark Staff Writer, CNET News.com January 11, 1999, 5:45 p.m. PT The red-hot online auction sector today saw a $54 million acquisition and new evidence that auctions, though popular with consumers, have the ability to transform business relationships in industry sectors too. Ticketmaster Online-CitySearch today announced the acquisition of CityAuction for 800,000 shares of Ticketmaster stock, a deal worth $54 million after the stock gained 10.625 today to close at 67.50. CityAuction conducts auctions for specific geographic areas. Meanwhile Manheim Online, an online auction for automobile dealers, reported its 1998 revenues hit $275 million, up 376 percent from 1997 sales of $58 million. Weekly sales exceeded $7 million by year's end.

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