Tix Board Turns Down Buy Out Offer

The board of directors of discount ticket seller Tix Corp. rejected an offer by shareholder Baker Street Capital to purchase outstanding shares in the company. The board made its decision on the recommendation of a special committee formed to review the offer. The committee determined the offer was not in the best interests of the company or its shareholders. Baker Street is the largest shareholder in Tix Corp., based in Studio City, with 21.9 percent of the company stock. The investment firm made its offer based upon concerns that management was considering a buy out at less than full value. Tix formed the special committee in early April and hired B. Riley & Co. LLC as its financial advisor. Tix operates discount ticket booths in Las Vegas and in branded merchandise activities related to museum exhibitions and other events. Mark R. Madler