The organization that manages the University of Virginia’s John Paul Jones Arena has merged with an international corporation to create a new entity to handle business for the local venue and more than 300 others across the world.
Pennsylvania-based SMG, which has managed JPJ since it opened in 2006, announced on Tuesday that it merged with Anschutz Entertainment Group of Los Angeles to create ASM Global. The new corporation will be headquartered in Los Angeles with key operations in a Philadelphia suburb, officials said.
The full assets of both corporations will be combined into the new entity.
The new corporation will have 61,000 employees worldwide. There was no indication how or if the merger will impact JPJ employees.
SMG officials said in a prepared statement that they expect a smooth transition for the venue’s management change.
“We have a long history of working closely with our public and private partners and are confident in our ability to continue to meet and exceed their expectations,” said Wes Westley, who served as SMG’s president and chief operating officer. “We are well prepared for a seamless integration process.”
Combining venues managed by the two organizations will give ASM Global control of stadiums, arenas, theaters and convention, exhibition and performing arts centers on five continents.
Bob Newman, who served as AEG’s president, will take the helm of the new corporation. He previously worked for SMG. Westley will work on transitions, officials said.