COLUMBUS, OH (CelebrityAccess) – Veteran Columbus concert promoter PromoWest Productions has been purchased by AEG Presents.
According to The Columbus Dispatch, AEG bought half of PromoWest for more than $40 million USD.
As part of the deal, PromoWest founder and CEO Scott Stienecker will continue to oversee PromoWest Productions as a division of AEG Presents for the next five to seven years.
“After getting to know AEG Presents and their senior management, it became more and more clear to me that both of our organizations were built from a common entrepreneurial spirit and culture,” said Stienecker. “I am certain this partnership is right for PromoWest and AEG Presents is truly the right fit for us. I believe our partnership with AEG Presents will provide us an additional collection of resources and assets that will allow us to continue to build on our achievements and take our company to an even higher level.”
Shawn Trell, Executive Vice President and Chief Operating Officer of AEG Presents, added: “PromoWest and AEG Presents share a passion and commitment to delivering the best music experiences to fans. Scott and his team have built an incredibly respected organization with a proven track record of success and we are pleased that they chose to partner with us. We look forward to working closely with them to continue to deliver first class concert experiences and further grow the PromoWest brand.”
PromoWest Productions was founded by Stienecker in 1983 and has since grown to be the largest independent promoter in the Midwest. PromoWest owns and/or manages Express Live!, Newport Music Hall, The Basement and A&R Music Bar in Columbus; Stage AE in Pittsburgh; and Bunbury Music Festival in Cincinnati. PromoWest Productions was also the original developer of Polaris Amphitheater.