Venue operators AEG Facilities and SMG – which runs arenas in Manchester, Leeds and Newcastle – have announced a merger, creating a new company: ASM Global.
The company will be based in Los Angeles and will operate more than 310 venues across five continents.
SMG Europe, a subsidiary of SMG, currently operates venues such as Manchester Arena, the First Direct Arena in Leeds and Utilita Arena in Newcastle,
AEG Facilities is the venue management arm of AEG and will own 50% of the company, with the other half owned by Onex, the parent company of SMG.
SMG chief executive Wes Westley described the move as a “major step for our industry”.
“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.