Live music major AEG yesterday announced it had acquired a 49% stake in leading independent promoter and talent agency Marshall Arts. The deal formalises an existing relationship between the two companies, who have previously worked together on a number of tours, including this year's Bon Jovi UK tour and Paul McCartney's recent North American tour. The deal aims to provide Marshall Arts, which will continue to operate as a separate entity, with increased financial backing, enhanced access to North American markets, and access to AEG's other infrastructure and resources.
Announcing the deal, AEG boss Timothy J Leiweke told CMU: "This is a great deal for AEG that will significantly strengthen our offering in the UK and Europe. 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".
Marshall Arts boss, Barrie Marshall, added: "This partnership is very exciting for us. 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 specialised in international touring and event presentation over many years. Our priority and belief is that the artiste 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".