The promoter giant won’t be buying venue operator

Live Nation got very close to making an offer to buy SMG from private equity firm Ares Capital, reviewing the bid and participating in much of the process, but never submitted an offer, Amplify has recently learned.

SMG is currently being shopped for $750 million and while there are plenty of synergies between Live Nation (content) and SMG (venue management), a decision was made not to an attempt a purchase of the company helmed by Wes Westley and first created in 1977. A range of issues — from Department of Justice scrutiny to jeopardizing Live Nation’s relationship the SMG-managed Greek Theatre in LA went into the decision.

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Dave Brooks
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Dave Brooks

Founder & Executive Editor at Amplify Media
Dave Brooks has over 15 years experience as a writer, including eight years as the Managing Editor of Venues Today. He started Amplify in 2014 to give the industry its own voice and turn up the volume on live entertainment.
Dave Brooks
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