CBS Backs TicketReserve

NEW YORK (AP) – CBS Corp. on Wednesday said it invested an unspecified amount in TicketReserve, a privately held Web-based marketplace.

TicketReserve gives fans access to hard-to-get tickets by allowing them to reserve the right to buy face-value tickets. These vouchers can be bought and sold through a free-market trading system, or used to buy a face-value ticket if the event, such as a sports game, occurs.

CBS said the service can be used for its sports programming, and eventually might be used for non-sports programming as well.

Under an agreement, CBS said it will provide TicketReserve with marketing, broadcasting and online resources.

Shares of CBS fell 36 cents to $33.17.