Competition watchdogs approve AEG-SMG merger
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
star job
Active Kids Adventure Park
Dependent upon experience
Perthshire, UK
Legacy Leisure
£5.00 - £8.21 per hour
Cardiff, UK
star job
Strip Wax Bar & Boutique
Competitive Salary and Benefits
London, UK
New Hall School
£9.02 - £10.76 per hour
Boreham, Chelmsford, UK
star job
University College School
£20,000.00 /year
London, UK

Competition watchdogs approve AEG-SMG merger

Job opportunities
Celtic Leisure
Circa £27,000
location: Neath Leisure Centre / The Vale of Neath Leisure Centre
Sandwell Leisure Trust
£29,636 - £33,799
location: Based across Hadley Stadium, Harry Mitchell Leisure Centre and Tipton Sports Academy
training opportunity
Institute of Swimming
location: Nationwide
more jobs

The UK's Competition and Markets Authority (CMA) and the US Department of Justice have given the green light for the merger of venue management giant AEG Facilities and sports arena operator SMG.

Competition regulators on both sides of the Atlantic were called to examine the "mega-merger" in February, when the deal was first announced.

The merger is now set to be completed by November 2019, creating a standalone global facility management and venue services company called ASM Global. The behemoth will boast an international portfolio of more than 310 venues.

AEG Facilities is the venue management subsidiary of Anschutz Entertainment Group (AEG), while SMG is owned by Canadian private equity group Onex.

The newly created company will now be headquartered in Los Angeles, California, with key operations also based in Philadelphia, Pennsylvania. It will take over AEG's and SMG's diversified portfolio of arenas, stadiums, convention centres and performing arts centres.

High profile venues to be operated by ASM Global will include the Barclays Center in New York, US; AT&T Center in San Antonio, US; Dubai Arena in the UAE; Ericsson Globe in Stockholm, Sweden and the Suncorp Stadium in Brisbane, Australia.

“This merger is a major step for our industry," said Wes Westley, CEO and president of SMG.

"We plan to accelerate innovation by combining our expertise to deliver increased value and offer enhanced capabilities to municipalities and venue owners worldwide.

"At the same time, we expect that this transaction will offer employees at both our corporate headquarters and field operations tremendous new opportunities.”

Bob Newman, president of AEG Facilities, added: This exciting new company brings together the two organisations and draws upon the depth of our combined talent and resources to create an organisation that will deliver value and long-term success, as well as innovative services to our clients around the world.”

Newman will become president and CEO of ASM, while Westley will join ASM’s board of directors.

AEG will retain ownership of its real estate holdings outside of the new venture, including its entertainment districts and owned venues in Los Angeles, London, Hamburg and Berlin. It will also retain its development, sports, music and sponsorship divisions.

Onex is contributing its entire equity investment in SMG into the merger. The transaction is expected to be completed later this year subject to regulatory approvals.

Sign up for FREE ezines & magazines
The UK's Competition and Markets Authority (CMA) and the US Department of Justice have given the green light for the merger between venue management giant AEG Facilities and sports arena operator SMG.
SAR,COL,EAG,EVT
imagesX/THUMB343032_231278_403170.jpg

More News

1 - 15 of 42,101
11 Oct 2019
Airport hotel chain Aerotel has opened the first and only hotel inside Heathrow Airport's Terminal 3, which is located and designed for the convenience and ... More
11 Oct 2019
Real estate developers are increasingly looking to tap into the "great opportunities" being offered by the growth of the UK’s health and fitness sector. According ... More
11 Oct 2019
The Silverstone Experience, a National Lottery Heritage Fund-backed project that will put the archive of the British Racing Drivers' Club (BRDC) on display to the ... More
11 Oct 2019
Latest figures from the Active Schools programme in Scotland show that the number of children taking part in the initiative is still growing, with 7.3 ... More
11 Oct 2019
Three health and fitness industry professionals at the beginning of their careers have been named as winners of Future Fit Training's Legacy Awards. The Legacy ... More
10 Oct 2019
Sensei, the wellness brand owned by tech billionaire, Larry Ellison, is to launch a retreat at the Four Seasons Hotel Lana'i at Koele. It will ... More
STA
STA
10 Oct 2019
Adeela Crown, a facialist and skincare specialist, has announced a new partnership with The Dorchester Collection that will include a residency at The Dorchester Spa ... More
10 Oct 2019
The outgoing chief medical officer, professor Dame Sally Davies, has called for urgent action across the industry – and the public sector – to help ... More
10 Oct 2019
A health and wellbeing club which combines exercise and physical activity classes with mental and emotional health sessions is marketing itself as the "UK's first ... More
10 Oct 2019
New York-based studio Love is Enough has created a new social and cultural destination with spaces to lounge, work and eat in a former railway ... More
10 Oct 2019
VivaFit has entered the Spanish fitness market with the opening of a studio in capital city Madrid. Located in the heart of the city's financial ... More
10 Oct 2019
The Lawn Tennis Association (LTA) is embracing augmented reality (AR) to help keep those involved in sport safe. A new nationwide safeguarding campaign, called Safe ... More
EMD UK
EMD UK
10 Oct 2019
For the first time, a woman has been crowned top aufguss master in the world at the Aufguss World Championships, held last month at the ... More
09 Oct 2019
Kinnick Stadium, in the US state of Iowa, has undergone an $89m (€81m, £73) renovation designed by Neumann Monson Architects and HNTB that has increased ... More
09 Oct 2019
John Treharne, founder of The Gym Group, has been appointed chair of boutique fitness brand Frame. Frame was launched by entrepreneurs Pip Black and Joan ... More
MoveGB
MoveGB
1 - 15 of 42,101
Manchester Metropolitan University
Manchester Metropolitan University