AEG Facilities and SMG owner Onex announced they will merge to create ASM Global. The new company will be headquartered in Los Angeles and will operate over 300 venues across five continents that include arenas, stadiums, convention centers and performing arts centers.
SMG’s facilities total more than 20 million square feet of exhibition space and over 1.6 million sports and entertainment seats. SMG-operated convention centers include:
Other SMG-managed venues include the Mercedes-Benz Superdome in New Orleans, Soldier Field in Chicago and U.S. Bank Stadium in Minneapolis.
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AEG Facilities’ portfolio includes major sports and entertainment facilities, such as:
AEG-managed convention venues include the Hawaii Convention Center in Honolulu, the Puerto Rico Convention Center in San Juan and the Los Angeles Convention Center.
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“This merger is a major step for our industry, said Bob Newman, current AEG Facilities president in a press release. “We are excited to bring together these complementary businesses to further elevate the standard of excellence in venue management.
“We plan to accelerate innovation by combining our expertise to deliver increased value and offer enhanced capabilities to municipalities and venue owners worldwide,” he added.
Following the completion of the transaction, which is expected to occur later in 2019, Onex and AEG will each own 50% of the new company (ASM Global).
AEG Facilities President Bob Newman, who was formerly a regional vice president at SMG, will be named president and CEO of ASM Global.
SMG CEO and President Wes Westley will join ASM’s Board of Directors.
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