Jul 9, 2026 – 8.00pmWhen Brad Banducci abruptly exited Ticketek owner TEG in late May, it triggered what some inside the company termed the “great Woolies walkout”. Banducci had been a well-credentialled, if left-field hire from Woolworths, the nation’s largest supermarket chain.Woolworths and TEG could not have been more different. Woolworths, one of the country’s oldest companies, was listed on the ASX, had 200,000 staff and commanded a $48 billion market capitalisation. It was a long way from the private equity-owned entertainment group with 600 employees that its owners had tried – and failed – to sell not long before.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Sam Buckingham-JonesMedia, marketing and telecommunications reporterSam Buckingham-Jones is the media, marketing and telecommunications reporter at The Australian Financial Review. Send tips about the media and the telco sectors via encrypted messaging platform Signal (@samebjones.18) or email.Fetching latest articles
The tech vs handshake battle that cut short Brad Banducci’s TEG tenure
It looked like a coup when Silver Lake landed the former Woolworths chief to run TEG. A year later, it is cutting costs and raising hundreds of millions.
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