PUG LLC (viagogo) acquires StubHub business of eBay Inc (2019)

Deal facts

Buyer: PUG LLC (viagogo)
Target: StubHub business of eBay Inc
Deal value: Not disclosed
Announced: 13 December 2019
Status: In review
Sector: Hospitality & Leisure
Country: Not stated
Consideration: Not stated

Sources

UK_CMA_GOVUK

What we know

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Deal timeline

1 update

13 Dec 2019CMA Phase 1 launched
viagogo / StubHub merger inquiry
The Competition and Markets Authority (CMA) investigated the completed acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc. Consent under clause 4.3 of the final undertakings Consent request accepted 5 June 2025: The CMA has accepted viagogo’s request for consent to reacquire the right to use certain StubHub brands and domain names in several jurisdictions outside of the UK
UK CMA

OpinionExit Mode editorial

We see a clear strategic shift in the global ticketing landscape with the announcement that PUG LLC, operating as viagogo, will acquire the StubHub business from eBay Inc. This deal, confirmed on 13 December 2019, moves a major secondary market platform under new ownership while remaining in review. The transaction sits firmly within the Hospitality and Leisure sector, yet it carries significant regulatory weight given the history of scrutiny surrounding ticket resale markets in both the UK and EU. The fact that the deal remains in review suggests that competition authorities are already examining whether this consolidation creates a dominant player with the power to dictate terms to artists, venues, and fans.

For the SME founder watching this unfold, the mechanics of this acquisition highlight a critical reality: strategic buyers often pursue scale to secure market position, but that very scale invites intense regulatory examination. The lack of a disclosed value or currency figure in the announcement is not unusual for a business unit sale, but the in-review status means the deal is not yet closed. This introduces a tangible risk of regulatory intervention, specifically through a CMA review or EU competition clearance process. These bodies will assess whether the combination of viagogo and StubHub reduces competition or harms consumer choice. Change-of-control covenants in the underlying agreements will likely be strict, and the deal could face conditions or even be blocked if authorities determine the market impact is too severe.

We believe the path forward for any founder in a regulated sector must account for the possibility that a deal does not close simply because the buyer and seller agree on price. The regulatory environment for ticketing has been hostile for years, and this acquisition will be judged against those existing standards. The buyer has taken on the task of integrating a well-known brand into its own ecosystem, but the success of that integration depends entirely on clearing the necessary antitrust hurdles. There is no room for assumption here; the process is rigorous and the outcome is uncertain until the authorities sign off.

Your immediate action this week should be to map out the specific competition thresholds that apply to your own sector and identify which regulator would have jurisdiction over a potential sale. Do not wait for a buyer to raise these issues during due diligence; prepare a preliminary assessment of how your market share and customer base might be viewed under current UK and EU competition rules.

Editorial opinion. Not financial or legal advice.

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PUG LLC (viagogo)

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PUG LLC (viagogo) to acquire StubHub business of eBay Inc