AEG Facilities, owned by Denver billionaire Philip Anschutz, will combine with Pennsylvania-based SMG to form ASM Global, a new entity owned jointly by AEG and private equity firm Onex, SMG’s parent company. ASM’s vast portfolio spans more than 300 arenas, convention centers and other venues across five continents, including Staples Center in Los Angeles and Dignity Health Sports Park in Carson.
The new company will be headquartered in Los Angeles with key operations based in West Conshohocken, Pa., a suburb of Philadelphia. The company will be led by Bob Newman, who formerly served as president of AEG. Wes Westley, former CEO and president of SMG, will focus his efforts on “key strategic growth initiatives and ensuring a seamless integration,” according to a Tuesday news release.He noted that AEG owns and runs venues, while SMG primarily provides management services.
“We will have this amazing global platform to serve this industry that is growing, and to focus on the live event experience,” Newman said. The company plans some restructuring as part of the merger, but Newman said he does not anticipate layoffs at this time. Newman started as an intern at SMG right out of graduate school in 1986 and stayed with the company for 20 years before moving to AEG, where he has worked for the last 12 years.AEG will largely retain ownership of its venues, including Staples Center and L.A. Live’s Microsoft Theater, where
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