{"id":41660,"date":"2018-03-12T18:06:13","date_gmt":"2018-03-12T18:06:13","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=41660"},"modified":"2018-03-12T19:22:16","modified_gmt":"2018-03-12T19:22:16","slug":"oak-view-group-gets-investment-for-growth-from-silver-lake","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/oak-view-group-gets-investment-for-growth-from-silver-lake\/","title":{"rendered":"Oak View Group gets investment for growth from Silver Lake"},"content":{"rendered":"

Oak View Group has received a cash injection from technology investment firm Silver Lake in order to support the entertainment and sports company’s growth strategy.<\/span><\/p>\n

The investment is said to total $100m, according to this Amplify report<\/a>, and will be used for arena development projects and other strategic initiatives.<\/span><\/p>\n

Oak View was founded by Tim Lieweke and Irving Azoff in 2015.<\/span><\/p>\n

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It\u00a0was recently awarded the right to redevelop Key Arena in Seattle and has<\/span>\u00a0partnered with New York Mets COO Jeff Wilpon and the NY Islanders to build a new arena for the Islanders in New York.<\/p>\n

Additionally, OVG has recently entered the facilities management business through its acquisition of Pinnacle Facility Management, and also owns and operates venue trade publications Venues Now and Pollstar.<\/span><\/p>\n

Silver Lake has\u00a0approximately $39 billion in combined assets under management and committed capital, and its investments include\u00a0<\/span>Alibaba Group, Ctrip and Dell Technologies.<\/span><\/p>\n

It also has a 5% stake in the Madison Square Garden company, which recently announced plans<\/a> to build two large-scale entertainment venues in London and Los Angeles.<\/p>\n

Azoff is also involved in MSG via his joint venture, Azoff MSG Entertainment.<\/p>\n

Amplify reports that OVG is currently in the running to manage LA’s Greek Theatre and more acquisitions are expected soon, including media properties in the UK.<\/p>\n

OVG\u2019s Tim Leiweke said, \u201cIn less than three years, Oak View Group has made a significant positive impact on the sports and entertainment facilities landscape.\u00a0<\/span><\/p>\n

\u201cI am very proud of what we have accomplished in such a short time.\u00a0<\/span><\/p>\n

\u201cThis deal with Silver Lake provides us with capital to continue to grow our business as well as invaluable expertise and relationships.”<\/span><\/p>\n

tim leiweke, oak view group<\/span><\/p><\/blockquote>\n

\u201cThis deal with Silver Lake provides us with capital to continue to grow our business as well as invaluable expertise and relationships.\u00a0<\/span><\/p>\n

\u201cI am thrilled to have them as my partner.\u201d<\/span><\/p>\n

Silver Lake MD Lee Wittlinger added: \u201cTechnology\u2019s impact on the global media and entertainment sectors has created new opportunities for OVG.\u00a0<\/span><\/p>\n

\u201cWe firmly believe that OVG is positioned to become a world-class franchise in sports and live events.”<\/span><\/p>\n

lee wittlinger, silver lake<\/span><\/p><\/blockquote>\n

\u201cWe firmly believe that OVG is positioned to become a world-class franchise in sports and live events.\u00a0<\/span><\/p>\n

\u201cWe look forward to working with Tim, Irving, and their team of category experts as a strategic partner in the company\u2019s next phase of growth.\u201d<\/span><\/p>\n

Oak View Group currently has more than 200 employees across offices in Los Angeles, Seattle and New York City.\u00a0<\/span><\/p>\n

Its business divisions include OVG Business Development, OVG Global Partnerships, OVG Media and Conferences, OVG Facilities, Prevent Advisors and the Arena and Stadium Alliance\u2014a select group of top US venues.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Investment said to total $100m and will be used for arena development projects and other strategic initiatives<\/p>\n","protected":false},"author":4,"featured_media":41664,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[4364,4365],"class_list":["post-41660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-oak-view-group","tag-silver-lake"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/41660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=41660"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/41660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/41664"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=41660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=41660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=41660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}