Oak View Group Announces Completion of Spectra Acquisition
The blockbuster venue management deal between Oak View Group and Spectra has closed, following the completion of a review by the Department of Justice, which was received November 15. The deal brings together the massive venue management and hospitality services capabilities of Spectra under the Oak View Group umbrella.... Read more
Live Nation, Oak View Group Partner on New Arena in Brazil
Live Nation Entertainment, Oak View Group, and GL events are partnering to develop a new 20,000 seat arena in the city of São Paulo, Brazil, which is expected to break ground next year and open in 2024. The development will be located in the city’s ANHEMBI entertainment district, which... Read more
Oak View Group Expands to Canada With Hamilton, Ontario Project
Oak View Group is taking on its first project north of the border, having signed a deal with the Hamilton Urban Precinct Entertainment Group (HUPEG). The deal will involve OVG helping redevelop the Hamilton, Ontario Arts & Entertainment District, which includes the FirstOntario Centre Arena. According to a press... Read more
Oak View Group, Spectra to Merge in Blockbuster Venue Deal
Oak View Group and Spectra announced an agreement to merge on Monday, creating a venue management and hospitality giant will own, operate, or service hundreds of venues across the globe. Financial terms of the merger, which is expected to close in the fourth quarter of 2021, were not announced.... Read more
Oak View Group Selects Ticketmaster for Six Venues Opening Now-2023
Oak View Group announced a long-term partnership deal with Ticketmaster, going with the Live Nation Entertainment-owned company for the ticketing systems at six venues opening in 2021-2023. The buildings include New York’s UBS Arena, Seattle’s Climate Pledge Arena, Austin’s Moody Center, Coachella Valley Arena in Palm Desert, California, Savannah... Read more
Oak View Group Announces Changed Coachella Valley Arena Plans
Oak View Group (OVG) announced updated plans for its new Coachella Valley Arena project in California, moving to a new location after its initial land deal broke down. Planned for land in downtown Palm Springs belonging to the Agua Caliente Band of Cahuilla Indians, the 10,000 capacity facility will... Read more
Monitoring Trustee Appointed For Live Nation Consent Decree Case
Mark Filip, a Kirkland & Ellis partner and former deputy attorney general, has been recommended by the U.S. Department of Justice to monitor Live Nation Entertainment and Ticketmaster’s compliance with their extended consent decree. Ticketmaster and its parent company Live Nation were accused of violating the terms of the... Read more
Live Nation, Oak View Group Announce Construction of Austin Venue
Concert promoter giant Live Nation Entertainment and the Oak View Group recently revealed that construction would begin on the Moody Center at the University of Texas at Austin. The privately financed sports and entertainment arena, which costs $338 million, will hold 15,000 seats and is set to open in... Read more
TEG Rumored to be Targeted for $1B Purchase by Silver Lake Partners
According to a report this week in the Australian Financial Review, a North American firm is considering purchasing TEG, the leading ticketing and live entertainment industry in the Asia Pacific market. TEG, which owns Ticketek and bills itself as “Asia Pacific’s leading Ticketing, Live Entertainment and Data Analytics business”... Read more
OVG Announces International Venue Alliance
The Oak View Group has announced the launch of the International Venue Alliance, which consists of a group of independent entertainment and sports venues. The development, advisory, and investment company, which was co-founded by the former AEG CEO Tim Leiweke and former Live Nation chairman Irving Azoff, launched its... Read more