EBay is selling StubHub to ticket seller viagogo for $4.05 billion in cash.
The transaction is part of a review that eBay undertook earlier this year following pressure from an activist investor. The San Jose, California-based company then said it was also reviewing options for its classified ads business.
EBay Inc. bought StubHub in 2007 for $310 million. Both StubHub and the classifieds business each brought in less than 10% of eBay's total revenue last year.
The addition of StubHub will allow viagogo to sell tickets in more than 70 countries and give buyers access to a wider selection of tickets.
Viagogo's founder and CEO Eric Baker is a StubHub co-founder. In a statement, Baker said it has been his longtime wish to unite the two companies.
The sale is targeted to close by the end of 2020's first quarter.
London shuts out Uber over safety
Uber has lost its license to operate in London, with that city's transportation regulator saying Monday it has lost confidence that the company "has a robust system for protecting passenger safety."
The San Francisco-based company said Monday it will appeal the decision by Transport for London, which it called "extraordinary and wrong." In a statement, Jamie Heywood, Uber's regional general manager for Northern & Eastern Europe, said, "TfL found us to be a fit and proper operator just two months ago, and we continue to go above and beyond."
Uber CEO Dara Khosrowshahi said on Twitter that the decision was "just wrong," and vowed to "keep going, for the millions of drivers and riders who rely on us."
Transport for London, which regulates taxi and private-hire services, cited security breaches, including a change in Uber's app that allowed unauthorized drivers to upload their photos to other driver accounts. At least 14,000 trips involved unauthorized drivers, the regulator said, and dismissed or suspended drivers had been allowed to create an Uber account and carry passengers.
"While we recognize Uber has made improvements, it is unacceptable that Uber has allowed passengers to get into minicabs with drivers who are potentially unlicensed and uninsured," said Helen Chapman, director of licensing, regulation and charging at TfL, in a statement.
Uber can operate in London while it appeals the regulator's decision in one of Uber's top 5 markets, which has 45,000 drivers and 3.5 million riders.
UAW sees progress in Fiat Chrysler talks
A top official of the United Auto Workers union says negotiators have made a lot of progress with Fiat Chrysler but difficult issues remain.
Vice President Cindy Estrada said in an email to members Monday that negotiators have remained focused on contract talks despite what she called outside distractions.
Union President Gary Jones stepped down last week, and Regional Director Vance Pearson resigned Sunday in a widening federal bribery and embezzlement probe of the union.
Estrada says they're committed to following the pattern agreement set with General Motors and Ford that provides job security. She didn't give details of what issues remain.
General Motors workers settled with the union and ended a 40-day strike on Oct. 31. Ford workers approved a new four-year contract on Nov. 15.