In a "major step" for the live music industry, the leading arena operators are to form one company, jointly owned by SMG's parent, Onex, and AEG
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"An exciting new chapter": arena operators AEG Facilities and SMG complete merger to create ASM Global, a single company jointly owned by SMG parent company Onex and AEG
By Anna Grace on 01 Oct 2019
AEG’s venue management arm, AEG Facilities, and Onex-owned SMG announced today (1 October) that they have completed their merger to create a single global facility management and venue services company, ASM Global.
The companies, which between them operate and run many of the world’s most important large entertainment venues, first announced their intention to merge in February. The completion of the merger comes following the UK’s Competition and Markets Authority approval of the deal in September.
ASM, headquartered in Los Angeles, has key operations based in West Conshohocken, Pennsylvania, as well as offices in London and Manchester, England; Brisbane, Australia; and Sao Paulo, Brazil.
ASM’s portfolio includes Sydney ANZ Stadium, the Mercedes-Benz Superdome in New Orleans, Brooklyn’s Barclays Center, Dubai’s Coca-Cola Arena, Manchester Arena and Lausanne’s Vaudoise Arena, as well as convention and exhibition centres, performing arts centres and theatres. Overall, the company will operate more than 300 facilities across five continents.
Some AEG-owned venues, including the O2 Arena in London and the AccorHotel Arena in Paris, remain under AEG control do not currently feature in the ASM portfolio online. The Mercedes-Benz Arena in Berlin and Los Angeles’ Staples Center, which were previously thought to be excluded from the deal, are included in ASM’s portfolio.
Bob Newman, former president of AEG Facilities, has been named president and CEO of ASM, effective immediately. Prior to joining AEG Facilities, Newman spent more than 20 years at SMG, last serving as a regional vice president for the company. Wes Westley, former CEO and president of SMG, will focus on strategic growth initiatives and facilitating the integration process.
“This marks the beginning of an exciting new chapter in our industry and one that will establish a new standard of excellence in managing live experiences”
“This marks the beginning of an exciting new chapter in our industry and one that will establish a new standard of excellence in managing live experiences,” comments Newman.
“Bringing together the combined global expertise of each company with the best content and cutting-edge technologies, we will be able to realise the full potential of the world’s greatest spaces, places and events, create amazing experiences for guests, offer exciting new opportunities to employees and deliver the highest value for all stakeholders. Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalise on the growing market opportunities.”
Westley adds: “I am very proud to have had the opportunity to lead such an incredible organisation as SMG. We have a long history of working closely with our public and private partners and are confident in our ability to continue to meet and exceed their expectations.
“ASM’s focus moving forward will be on providing added value and best-in-class services to its customers.”
Onex, AEG and their respective affiliates are contributing their entire equity investments in SMG and AEG Facilities, respectively, and are now equal co-owners of ASM.
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