![]() We will respect the planet we will mirror the diversity of the many communities in which we do business and we will provide our fans and our clients with extraordinary service, indelible memories, and easy confidence in knowing that we can again, and forever, gather safely."įounded in 2015 by industry veterans Tim Leiweke and Irving Azoff, OVG specializes in real estate venue development and financing, sponsorship sales and partnership management, media and content, and facilities management and security. OVG has deep partnerships with prominent venues, including major league facilities such as the recently opened Climate Pledge Arena ( Seattle) and UBS Arena ( Belmont, NY), among others. As the needs and uses of these venues continue to evolve, we will be there, with our clients, leading the way. Granger said, "Venues are incredible community assets, the very last town square, perhaps the remaining place where diverse people gather to laugh, to cheer, to sing, to dance, to dine, to conduct business, to protest, or to vote en masse. Integration of the two companies is expected to begin immediately with Chris Granger at the helm beginning December 1 as the new CEO of OVG Facilities, a division of the Oak View Group focused on providing full-service venue management expertise, event programming, and now food & beverage solutions to arenas, stadiums, and convention centers, on a global basis. The deal comes at a time when OVG is busy leading arena redevelopment and operations of the recently opened Climate Pledge Arena at Seattle Center, as well as leading arena development projects including UBS Arena in Belmont Park, NY Moody Center in Austin, TX New Arena in Coachella Valley, CA Co-op Live in Manchester, UK as well as arena projects in São Paulo, Brazil, and Hamilton, OntarioĪs part of the proposed acquisition, the combined organization will serve current and future clients with a complete array of venue and hospitality services, including powerful booking advocacy innovative, customized food & beverage experiences award-winning sales & marketing support cutting-edge public health and public safety solutions unmatched leadership in sustainable, green operations and analytic insights that will enable smarter and faster operational decisions. "We'll begin the important process of fully integrating the talented team at Spectra and bringing together our two organizations to create something truly extraordinary in the live events and entertainment industry." "Now that OVG's acquisition of Spectra is complete, we can get down to the business of delivering an expanded highly competitive set of services that anticipate and meet the evolving needs of our global client base," Tim Leiweke, CEO of OVG, said. While the initial acquisition agreement was first announced on August 30, the companies were awaiting regulatory approval from the Department of Justice per the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), which they received Monday, November 15. The financial terms of the transaction were not disclosed. 19, 2021 /PRNewswire/ - Oak View Group (OVG), a global venue development, advisory, and investment company for the sports and live entertainment industries, today announced that it has completed the transaction to acquire Spectra, one of the industry's leading venue management and hospitality providers, to create one world-class, full-service live events company.
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