Oak View Group, a global venue development, consulting, and Investment Company for live sports and entertainment businesses, as well as Spectra, one of the industry’s leading companies in the field and venue. The hospitality provider, announced today a clear agreement under which OVG and The Spectra will merge to produce leaders in a live events company. The financial structure of the business is not disclosed.
Tim Leiweke, President of OVG, said: “This partnership connects the two top executives in the real estate industry with support capabilities that will serve our clients in a wide range of roles. OVG’s core capabilities in developing campus and in-home support service, as well as Spectra’s leadership in food and beverage services, will create a full-life event company that will deliver incredible deals and great competition to meet the needs of our customers. One to Create Something unique and true “.
Founded in 2015 by company executives Tim Leiweke and Irving Azoff, OVG specializes in home finance and development, support and collaboration management, advertising and content, as well as business management and security. OVG has deep relationships with famous venues, including major clubs like the Climate Pledge Arena (Seattle) and UBS Arena (Belmont, NY), among others.
Spectra has established itself as a leading company by helping clients increase site budget and operations, increase sales and marketing, improve relationships between promoters and meeting planners, connect with music to the community and implement industry best practices to work efficiently events and entertainment.
The combined company will bring industry-leading booking and content creation expertise to the area it manages and will strive to stay afloat throughout its business by harnessing the power of the entertainment and gaming industry to inspire positive positive change in the scale.
Completion of the mix, expected in the fourth quarter of this year, will depend on legal backing, as well as other customary closing conditions. When the business closes, OVG will be based in Los Angeles, while Spectra’s headquarters will remain in Philadelphia.
About Oak View Group (OVG)
OVG focuses on being a positive business connotation as it is in the sports and entertainment industry, and currently has eight departments across four continents companies (Los Angeles, New York, London, and Philadelphia). OVG is leading the development and operation of the Climate Pledge Arena in Seattle Center, as well as leading camp development projects for UBS Arena in Belmont Park, NY; Moody’s Austin, TX location; New Arena in Coachella Valley, CA; and Co-op Live in Manchester, UK. OVG Facilities, a division of OVG, is the infrastructure management, applications, warehousing, and cleaning services arm serving OVG’s campus development services and customers in third-party environments. OVG Media & Convention, a division of OVG, publishes Pollstar on VenuesNow, in addition to hosting inter-party entertainment events around the world. OVG’s Arena Alliance, a division of OVG, is a collection of the top 33 destinations in North America that provide a platform for writing, content, and marketing support opportunities.
Spectra is the leader in the entertainment and events industry. The Spectra network of on-site management teams works with the community, college and university, private developers, and other partners to create a memorable experience for millions of visitors each year. Spectra offers unimaginable benefits through a combination of venue management, food service, and hospitality, as well as collaboration services for 330 clients in North America and around the world, including stadiums, playgrounds, venues, theaters, areas gambling, and casinos. Spectra’s Venue Management department specializes in internal analytics, event booking and content development, finance and management, large-scale customer service, marketing and sales, operations, ticketing, and box office management. Food and hospitality services provide expertise in space, catering, infrastructure, catering, and advanced space management and management, as well as data and analytics. The association offers a wide range of services in five areas: sales and representation, naming rights, hospitality, and booster seats, planning advice, and national partners. The Spectra team is there to support industry leaders in areas such as human resources, law enforcement, and risk management, marketing, communications, and crisis management.