LOS ANGELES/LONDON (CelebrityAccess MediaWire) —
AEG has acquired a 49% stake of leading independent promoter and international talent agent, Marshall Arts. Marshall Arts will continue to operate under its established name and as majority stakeholders will maintain operational independence. As this is a joint venture, AEG will place representatives on the organization’s Board of Directors, which will continue to be chaired by Barrie Marshall of Marshall Arts.
The two companies have previously worked together on a number of tours including this year’s sold-out Bon Jovi UK tour as well as Paul McCartney’s recent North American tour. The deal provides Marshall Arts with increased financial backing, enhanced access to North American markets for its tours and access to AEG’s infrastructure and resources. Marshall Arts provides AEG with an extended international promoting reach.
“This is a great deal for AEG that will significantly strengthen our offering in the UK and Europe," said Timothy J. Leiweke, president and CEO of AEG. "By combining with Marshall Arts’ experience, knowledge and credibility, we now have the capability to promote and host more acts in the great venues that we own and are developing such as The O2 arena and adjacent music club that we’re in the process of creating at The O2. These are great times for AEG”
"Having worked very closely with Barrie, Jenny and Doris my entire career as an artist's manager, the idea that we are now partners as promoters and producers of some of the world's most brilliant talent, is a dream realized,” said Randy Phillips, president and CEO AEG Live. “Marshall Arts is an extremely professional and talented organization which will complement the existing infrastructure of AEG Live while preserving the independence and unique style of closely working with artists and their teams, which is the hallmark of their company. Marshall Arts will be a tremendous asset to our facilities like the O2 and our worldwide expansion into live touring and venue ownership.”
“This partnership is very exciting for us," said Marshall. "AEG is a hugely respected international company, and we believe that, as Marshall Arts, we bring a wealth of experience on a worldwide level, having specialized in international touring and event presentation over many years. Our priority and belief is that the artist and the audience is why we exist. We have been privileged to work with some of the greatest entertainers in the music industry and, indeed, some of the most renowned managers of talent. Over time, we have developed and maintained a great relationship with partners around the world. Working with AEG means that we’ll be able to broaden our horizons even further because AEG brings to the table its own great promotion experience and a fantastic track record. I believe that together we promise to be a potent force. We are delighted to welcome, Tim Leiweke, Randy Phillips and Jessica Koravos (managing director of AEG Enterprises) to the Marshall Arts Board." –Bob Grossweiner and Jane Cohen