eps Super Leaderboard Summer 2018
Circles Group SL
IFF 2018 Super Leaderboard
x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

Live Nation ‘bidding on SMG’

The world's largest promoter is reportedly in the running to buy the planet's leading venue operator, which is expected to sell for around $750m

By IQ on 29 Nov 2017

Bristol Arena, SMG Europe, Live Nation

Live Nation and SMG Europe will jointly operate Bristol Arena


image © SMG Europe

Live Nation has reportedly submitted a proposal to buy venue management giant SMG.

The Pennsylvania-based company – whose venue portfolio, the world’s largest, includes some 500 arenas, stadia, theatres, amphitheatres and convention centres across North America, Europe and Asia – was recently put on the market by current owner Northlane Capital Partners, and is expected to sell for around US$750m.

According to SportsBusiness Journal, offers for SMG were due in yesterday, with Live Nation among the bidders. The two companies have a history of collaboration in ticketing and venue management, most recently on the planned Bristol Arena in the UK.

The acquisition of SMG would make Live Nation, already the world’s biggest promoter, a dominant player in venue management, especially in the European arenas market, where rival AEG Facilities is traditionally stronger.

It would, however, be subject to regulatory approval in multiple territories, as with Live Nation’s 2010 acquisition of Ticketmaster.

IQ has contacted Live Nation for comment.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

More news

SMG sold to PE firm Onex Corporation SMG, a world leader in venue operation, is to be acquired by a $5.7bn fund managed by Canadian private-equity investor Onex Corporation
SMG on the market again The multinational venue management giant is reportedly for sale once more – and at least one rival is prohibited from putting in an offer…
Live Nation acquires Texan promoter ScoreMore Show... Austin-based ScoreMore, the company behind festivals like Neon Desert and JMBLYA, has sold up after eight years as an independent
Live Nation buys into facial recognition company LN has invested in Blink Identity, which uses biometric IDs to control event access… as Ticketmaster's ex-CEO launches a facial recognition-powered...platform of his own
Live Nation acquires US indie Frank Productions The concert giant has made its first acquisition of 2018, buying a majority stake in Frank Productions, one of the US's leading independent promoters