Legends
Welcome to another Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. Later, carve out some time today to peruse our annual list of the industry’s top whippersnappers (aka 40 Under 40).
Matt O’Neil is now chief marketing officer of the combined Legends + ASM Global. A seasoned sports and entertainment marketing executive, O’Neil joined Legends in 2022 as chief content & experience officer and has since led successful strategies that expanded the company’s client base and revenue. In his new role, he’ll oversee all marketing, creative, content and event initiatives, focusing on enhancing customer experience and driving growth. O’Neil previously held key leadership roles with the Dallas Cowboys and New York Red Bulls, where he developed fan engagement and branding strategies. His appointment follows Legends’ 2024 acquisition of ASM Global from AEG and Onex, forming a powerhouse that now operates iconic venues including Crypto.com Arena, Soldier Field, and AO Arena. CEO Dan Levy praised O’Neil’s expertise in fan experience and storytelling, saying his background “makes him the right person to shape our unified identity and help our clients thrive in an increasingly competitive landscape.”
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Armada Music Group named industry veteran Maarten Steinkamp as interim president, a new gig designed to support the company’s next phase of growth. Previously serving as an interim board consultant, Steinkamp will now lead efforts to strengthen internal operations and prepare Armada for future expansion. He’ll report directly to CEO Maykel Piron and be based in the Netherlands. Steinkamp brings extensive global experience, having held top leadership roles at BMG and Sony BMG Europe, where he was president of BMG International and chairman/CEO of Sony BMG Europe. Founded in 2003 by Armin van Buuren, Maykel Piron and David Lewis, AMG encompasses Armada Music, BEAT Music Fund and Armada Music Publishing. Piron praised Steinkamp’s “leadership, strategic insight, and deep understanding of our industry,” adding, “with Maarten’s continued support, I’m confident we will unlock new opportunities together and take Armada Music Group to even greater heights.”
ALL IN THE FAMILY: Rolling Stone appointed Gus Wenner as executive chairman and Julian Holguin as CEO. Wenner, who has led the company since its 2017 sale to Penske Media, will now focus on strategic vision and new ventures. Under his leadership, RS expanded its digital presence, launched live events and film divisions, and earned prestigious awards, including National Magazine Awards and an Emmy. Holguin brings extensive experience from another Penske pub, Billboard, where he led major mergers and revenue growth across advertising, events and licensing. He also served as CEO of Doodles, a next-gen entertainment studio. As CEO, Holguin will oversee the brand’s business operations and report to Penske Media CEO Jay Penske. “Rolling Stone is poised for continued success leveraging Gus’ deep experience and vision for the brand and Julian’s keen business instincts and passion for innovation,” said Penske. “Rolling Stone will continue its rich legacy of world class journalism and culture shaping conversation while creating new avenues for growth” … Congrats to PMC vice chairman Gerry Byrne, who received the Ellis Island Medal of Honor, an award recognizing individuals for their leadership and service across diverse fields.
Matt Harmon is the new head of rights development at Exceleration Music, an investment fund supporting indie music artists and labels. In this role, he will oversee label operations, A&R development, marketing and catalog growth across Exceleration’s portfolio, which includes +1 Records, Kill Rock Stars, Yep Roc, and more. Harmon brings over 20 years of experience from Beggars Group US, where he rose from Head of Sales to President, helping expand labels like Matador, 4AD, and XL Recordings. Exceleration Partner John Burk praised Harmon as the “perfect leader to guide and support our rights development activities,” while Harmon, a lifelong New Yorker based in Brooklyn, said he’s “energized by the opportunity.”
Rock Paper Scissors hired Adam McHeffy as the agency’s first-ever chief creative officer. He will lead a new initiative to expand RPS’s marketing and creative services, including advertising, artist collaborations, video production, and web development. McHeffey brings a strong track record from his time as CMO at Artiphon, where he led product launches, helped sell over 250,000 instruments, and raised more than $3.6 million on Kickstarter. He has also directed major marketing campaigns for innovative instruments like the Demon Box and MyTRACKS, and contributed to platforms like Musio and Feeture. His creative work spans brands such as Slack and Rivian. A singer-songwriter and children’s book author, McHeffey is praised by RPS CEO Dmitri Vietze as a top-tier music tech marketer. “Adam’s skills make him the marketing Swiss army knife every music tech company should have on hand and make our team a formidable force,” Vietze said. “Combining his marketing expertise with our PR strategy and placement creates exponential results for our clients.”
Andrew Farwell has been named president of Outback Presents, the independent live promoter. Formerly vice president, Farwell worked closely with founder and co-CEO Mike Smardak, helping produce thousands of concerts and events across the U.S. and Canada. Based in Nashville, Farwell’s promotion coincides with his recognition in Billboard’s just-released 40 Under 40 list. Farwell also serves as vp of the International Entertainment Buyers Association (IEBA) and is a 2023 Leadership Music alumnus. He previously won IEBA’s Rookie of the Year Award and has been nominated for promoter of the year. “We all have built something we are ALL incredibly proud of, and had fun doing it together,” said Smardak. “Andrew’s ethics and class are what I am most proud of. It is a great day for Outback Presents.”
NASHVILLE NOTES: The Country Music Hall of Fame and Museum promoted Ed Schulte to senior director of facilities, operations and sustainability from director. He replaces Leigh Anne Wise, who is retiring after 41 years at the museum … Doug Montgomery, Townsquare Media‘s country format lead since 2017, will retire on July 31. He previously led country content and served as director of content in Grand Rapids. Prior to joining Townsquare, he spent over 20 years at iHeartMedia’s Country B93.7, where he was svp and format brand coordinator … and Empire Nashville svp of operations Heather Vassar parted with the company on May 2, six years after she joined the firm.
G Major Mgmt, known for a roster that includes ACM entertainer of the year winner Thomas Rhett, is bolstering its team. Led by founder/artist manager Virginia Bunetta, G Major Mgmt has added Emilie Gilbert as manager of insights & fan engagement strategy, and Madeline “Sledge” Lary as digital manager. Samantha Thornton has been promoted to senior director of marketing, while Harry Lyons has been promoted to senior director of business operations, leading G Major’s lineup of day-to-day managers, while leading touring and business expansion. Bunetta continues to guide the company, while also continuing management for Thomas Rhett. –Jessica Nicholson
Alternate Side has expanded its artist management team with key promotions and hires. Cory Hajde, a Clevelander who manages Hot Mulligan and Dayseeker, becomes the first partner outside the co-founders. He also leads BravoArtist and owns venues in Ohio. Mike Scrafford, based in Brooklyn, joins as a manager, bringing artists like Beach Bunny and Car Seat Headrest, and is known for his artist-first approach. L.A.-based Ally Ehasz, with the company since 2022, is promoted to manager, overseeing acts like Pastel Ghost. The company recently celebrated success with Sydney Rose’s viral hit “We Hug Now.” Co-founders Evange Livanos and Zack Zarrillo emphasized their commitment to intentional artist development. Founded in 2019, Alternate Side represents artists like Cavetown and Chloe Moriondo, continuing to grow with a DIY, artist-focused ethos.
Octavius “Doc Ock” Crouch launched Red Octave, an Atlanta-based R&D and label services company designed to streamline talent discovery and reduce risk for labels and investors. Leveraging proprietary software, automated outreach and deep data mapping, Red Octave delivers vetted, ownership-cleared artist opportunities. Operating like a real estate brokerage for music IP, it uses a commission-based model with no monthly overhead, in an appeal to catalog buyers and distributors. Beyond data, it offers full label services including marketing, tour support, and DSP distribution. Crouch aims to restore Atlanta’s music industry prominence by building infrastructure to match its creative talent. “We don’t just need reps—we need real estate from the majors,” he said. “It’s time to build the infrastructure to match the creativity. Red Octave is my blueprint to make that happen.”
Nice Life Recording Company promoted Becky Lopez to senior director of marketing and streaming strategy, recognizing her pivotal role in the label’s recent success. Becky joined Nice Life in 2021 and has led campaigns for artists like Lizzo, The Marías, and Tinashe — whose viral hit “Nasty” earned her first solo RIAA Gold certification. The Angeleno began her career at Power106 Los Angeles in 2014, rising from programming assistant to music director, where she supported artists like Cardi B and The Weeknd. She also contributed to programming at 93.5 KDAY and helped launch Cali 93.9. CEO Ricky Reed praised Lopez as a “driving force behind our growth for years. Her promotion… is a natural next step.”
PR firm Milestone Publicity rebranded as Milestone Collective, launching a new digital marketing division to accompany their existing publicity services. Leading the company’s new digital marketing efforts is Caylie Landerville, who previously was part of the team at Red Light Management/Silverback Music. Milestone was founded in 2019 by Mike Gowen and has worked with artists including Blues Traveler, Colt Ford, Bryan Martin, Jerry Douglas, Lonestar, Leftover Salmon, Michael Cleveland and more. –JN
Langham Hospitality Group appointed Andrew Grant as its first Group Director of Music, emphasizing the rising role of audio marketing in hospitality. With over 25 years of experience as a DJ, producer and event specialist, Grant will oversee the development of a global music strategy for Langham’s 40-plus hotels. His responsibilities include curating live performances, artist partnerships, and immersive soundscapes to elevate guest experiences and reinforce brand identity. Grant will also lead music programming and events, including special activations for Langham’s 160th anniversary, while continuing as director of music and radio at Eaton DC in the nation’s capital, where he’s based. Prior to joining Langham in 2019, Grant was a longtime talent buyer and producer for the Okeechobee Music and Arts Festival in Florida, and for years was a resident DJ at Ibiza’s DC10.
Industry veterans Alan Grunblatt and Dave Goldberg launched DNA MUSIC, a hip-hop entertainment company focused on signing talent, acquiring iconic catalogs, producing original TV content and distributing physical formats worldwide. Distributed by Hitmaker Distribution, DNA made a strong debut with Black Samson, the Bastard Swordsman by Mathematics and Wu-Tang Clan, which hit over 10 million streams in its first week. The label also found viral success with Eke’s “Ghetto” and is backing Memphis up/comer Flippa T.
ICYMI:
Jeremy Sirota
Merlin announced that Jeremy Sirota, the licensing organization’s CEO since 2020, is departing at year’s end … Candice Watkins is the new president of Capitol Records Nashville and executive vp of Capitol Christian Music Group … Verizon and Tyson Foods veteran Matt Ellis is the new chief financial officer of Universal Music Group. [Keep Reading]
Last Week’s Turntable: Country Hall Curator Retires After 51 Years
Welcome to the latest Executive Turntable, Billboard’s weekly compendium of promotions, hirings, exits and firings — and all things in between — across the music business. There’s a full slate of personnel news this week, so let’s hop to it.
Long-time listener, first-time employee Rich Baer joined SiriusXM Holdings as the satellite radio giant’s new executive vp, general counsel and secretary, effective March 3. Baer, who replaces the retiring Patrick Donnelly, boasts over 40 years of legal and business experience, most recently serving as chief legal officer at Airbnb before hanging it up in 2023. “I failed at retirement,” he joked this week. His extensive career also includes roles as chief administrative officer and chief legal officer at Liberty Media, evp and CLO at UnitedHealth Group, and general counsel at Qwest Communications. Baer began his legal career as a homicide prosecutor in Brooklyn before leading the litigation department at a Denver law firm. He’ll report to SiriusXM CEO Jennifer Witz, who highlighted Baer’s background in counseling complex companies and said “his ability to navigate legal issues and balance the needs of a business will enable him to succeed here.” Witz also honored outgoing GC Patrick Donnelly, recognizing his nearly 27 years of dedicated service.
Partisan Records hired Nick Wagner as the indie label’s new chief financial officer, effective late last year. Based in NYC and reporting to president and co-founder Tim Putnam, Wagner will oversee global financial operations, strategic planning, team management and growth initiatives at Partisan, home to PJ Harvey, IDLES and more. Wagner brings extensive experience from his previous role as global vp of business operations at Endeavor, where he improved operational efficiency across the company’s portfolio. He also served as vp of finance at Warner Music Group, focusing on artist-driven growth in digital and social media. Additionally, Wagner led the North America Digital Media division at Vice Media Group, managing finance and operations for brands like Noisey and Vice.com.
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Sony Music Nashville has promoted Mallory Michaels to vice president of radio marketing & promotion. In the new role, Michaels will develop and implement strategic and tactical national radio promotion plans for rostered artists at Sony Music Nashville, supporting both Columbia Nashville and RCA Nashville imprints. Michaels will report to senior vp, radio marketing & promotion Dennis Reese. Michaels joined SMN in 2018 and previously held roles at Warner Music Nashville and Red Bow Records. –Jessica Nicholson
Mike Faul / Courtesy Photo
Dynamic Talent International appointed veteran marketer Mike Faul to lead its newly launched Brand Partnerships division. Based in New York, Faul will spearhead efforts to connect creative talent with top brands across industries like fashion, technology, luxury, lifestyle and media. The division will focus on sponsorship acquisition, co-branded content creation and immersive experiential activations, aiming to craft bespoke campaigns that amplify both brand identities and artistic expression. Faul brings extensive experience to the role, having worked with major names like YouTube, MTV, A24, The North Face and Taco Bell. In 2017, he founded Sub Rosa Curation, driving innovative marketing initiatives across sports and entertainment. Prior to that, he served as marketing manager at Bagavagabonds, curating festival programming for brands like Vans, Toyota and Anheuser-Busch. DTI, a leading talent management firm with offices in Sacramento, Los Angeles, Nashville, New York and Poland, is known for its forward-thinking approach in supporting artists. The firm recently celebrated Taemin’s sold-out show at the Kia Forum and announced new signings, including The Georgia Satellites and Hot 8 Brass Band. “This is an exciting opportunity to bolster what is already one of the most dynamic agencies in entertainment,” said Faul.
Legends appointed Chris Bray as president of Europe for its combined Legends and ASM Global business. Bray will oversee operations across the UK and Europe, managing venue operations and revenue generation for sports, entertainment, conventions and other industries out of the company’s office in Manchester. Previously president of Europe for ASM Global, Bray brings over 30 years of experience in commercial operations and development. Since joining ASM Global in 2022, he has driven growth, enhanced guest experiences, and sealed key contracts with venues like Utilita Arena and Olympia London. Bray also oversaw significant investments in venues, including a major glow-up for AO Arena in Manchester. Before ASM Global, he spent 15 years at Sodexo, where he boosted the firm’s Sports and Leisure division. Following Legends’ acquisition of ASM Global in August 2024, the combined company includes iconic venues like AO Arena and major football clubs such as Arsenal and Liverpool. Legends CEO Dan Levy praised Bray’s leadership, adding, “With a strong presence across the UK and Europe … we’re in an incredible position to set new standards in sports and entertainment.”
Sony Music Publishing promoted Taryn Miller to vice president, IT global copyright and royalties, effective immediately. Based in Nashville, Miller will report to chief information officer Bill Starke. In her new role, she’ll oversee the development and management of SMP’s royalty and copyright systems, including the Tempo platform and client portal SCORE, while collaborating across departments on enterprise applications. With over 20 years at the company, Miller has been instrumental in advancing key systems like Tempo and SCORE. She began her career in North American Royalty Administration before becoming a Tempo migration specialist and later transitioning to the IT team, most recently serving as director, IT global administration systems. Starke praised Miller’s contributions, stating “her work has elevated our services for songwriters.”
Creative Artists Agency promoted five Elevate trainees to agent roles across its music, comedy and theatre departments. In the Music Touring group, Ethan Goldish, based in Nashville, was elevated after joining CAA in 2019 and progressing from floater to booking professional in 2022. Also in Nashville, Cam Jensen was promoted after starting as an assistant in 2022, later becoming a booking professional overseeing the Southeast club territory. In Los Angeles, Dom Valentyn was promoted to Music Touring Agent, having joined CAA in 2019 and previously working in artist management and playlist marketing. In the Comedy Touring department, Marissa Pisterzi in Los Angeles was promoted after starting at CAA in 2021, working with several agents before becoming a booking professional. In New York City, Kennedy Woodard was promoted to Agent in the Theatre department. She joined CAA in 2021 as an assistant to Justin Edbrooke and Ethan Kurtzman, and has worked closely with theatre pros to develop stage and screen projects. All five promotions reflect CAA’s commitment to nurturing talent through its Elevate program, which identifies and advances rising professionals within the agency.
Kobalt appointed Claes Uggla as general manager of Kobalt Scandinavia, overseeing operations from the Stockholm office. With over 25 years of A&R experience, Uggla has shaped the careers of many Scandinavian artists. He joins from RMV, where he worked with acts like Gustaf & Viktor Norén. Previously, at Universal Music Sweden, he licensed hits like Lukas Graham’s “Ordinary Things,” and at Sony Music Sweden, he earned a special A&R award for Alan Walker’s “Faded.” Jeannette Perez, Kobalt’s president, praised Uggla’s track record, saying his “approach to A&R, his deep connections to the creative community and his leadership skills will be an important asset to us as we continue to build upon our success in the region.”
Range Music elevated Jared Cotter to managing partner of the management company, the music division of Range Media Partners. Cotter, who joined Range in 2022 and co-manages Shaboozey, made partner last May and before that was vp of A&R for the company. Outside the Hot 100 juggernaut that is Shaboozey, Cotter manages Paul Russell, whose “Lil Boo Thang” reached No. 14 in 2023. Cotter came to Range after co-founding The Heavy Group in 2016, a management and production company where he first signed Bazzi several years ago. He also co-founded 3AM Entertainment, an indie label focusing on music from the South Asian diaspora.
Celine Hollenbeck and Jenna Akemi Kon are named partners at Carroll Guido Groffman Cohen Bar & Karalian LLP, a leading music and entertainment law firm. Hollenbeck, based in Los Angeles, and Kon, in New York, joined the firm in 2017 and 2018, respectively. Founding partner Michael Guido and Los Angeles managing partner Renee Karalian praised their dedication and industry acumen, adding that their “enthusiasm and passion for music and artistry continue to impress the firm’s clients and partners alike.” They join the firm’s growing partner group, including Paul Gutman, Ira Friedman, Leah Seymour and Dave Keady.
BOARD SHORTS: Grammy Museum Mississippi added three new members to its board: Betsy Aguzzi of Mississippi Limestone Corporation, music publicist and entrepreneur Zach Farnum, and artist manager Gaines Sturdivant. They’ve been elected to 3-year terms, starting last month. The board is responsible for governance, oversight and major decision-making at the Cleveland, Miss. museum … VPL, which licenses music videos for public and TV broadcasts in the UK, made key board appointments: Charlotte Saxe is now VPL chair, with Alison Wenham and Shamus Damani joining as new board directors. The VPL Board, consisting of eight directors, oversees all aspects of music video licensing operations for the PPL sister company.
The Country Music Hall of Fame and Museum promoted five staff members to key leadership roles. Tess Pardee is now associate director of creative project management, overseeing creative projects and resources. Marshell Ruffier has been named associate director of food and beverage operations, managing the banquet team, the museum café, and sustainability initiatives. Alex Krompic has been promoted to director of production and technical services, leading audio, video and lighting for events. Emily Zirkle is now associate director of events administration and entertainment, managing revenue and public events in the CMA Theater. John Sloboda has been promoted to executive director of exhibitions and curatorial services, overseeing gallery exhibitions.
Red Street Records promoted Kelly King to vp of Red Street Publishing, while Patrick Waters joins as senior director of A&R country for the company’s country roster, which includes Chris Lane, Ryan Griffin, Neon Union, Ryan Larkins and Kaleb Sanders. King, known for discovering and/or developing artists and writers including Rascal Flatts, Brett James and Brothers Osborne, earned a partnership at Teracel Music and Good Girl Music (a co-venture with Sony Publishing), before launching her own King Pen Music (a co-venture with Warner Chappell Publishing) prior to joining Red Street Records in 2022. Waters has previously held roles at Red Light Management, Warner Brothers and Interscope. –J.N.
NASHVILLE NOTES: Gotee Records appointed Jess Loper as its new general manager. Reporting to Joey Elwood, CEO of Bell Partners Christian Music, Loper steps into this role following Gotee’s integration under Bell Partners. Previously, she was vp of brand management at Gotee Records and publishing at Emack Music … The International Bluegrass Music Association made three staff changes. Rebecca Bauer joins as marketing director after working as a marketing manager for City Winery; Elizabeth Dewey was promoted to communications director from administrative manager; and Haley Grimm, who’s in her final semester at Belmont University, took over Dewey’s former position … Publicist Jessica Nall joined Jonesworks, where her country clients include Zac Brown Band, Drake Milligan and Adam Doleac. She formerly was Atlantic director of press and media strategy … Paquin Artists Agency, a booking firm focused on Canadian country acts, hired agent/talent buyer Paul Biro, formerly president/operating partner at Sakamoto.
Killphonic Rights launched a dedicated label division, led by CEO Caleb Shreve and co-head of A&R Syd Butler. This follows the company’s executive expansion and a $3 million investment from Stilwell Creative Capital in 2024. The label’s first release, Heart Of Gold: The Songs of Neil Young, is set for April 25. Butler emphasized the label’s “artist-first” approach, highlighting the team’s industry experience and commitment to artist development. He stressed the importance of community and fair profit sharing, aiming to provide essential support at a time in the industry when it’s being abandoned. We believe artists need a community and a label that has their back as they navigate their future in this business.”
ATC Live has two key staffing updates. Lucy Atkinson joins as a new agent from Earth Agency, bringing her 30-strong roster, including Sega Bodega, Alice Glass and Erika de Casier, to boost the live booking agency’s electronic music prowess. Known for her forward-leaning approach, Atkinson has secured high-profile brand collaborations, such as Deijuvhs for Versace Jeans Couture and Ecco2k with Bella Hadid for Marc Jacobs eyewear, among others. Additionally, Alice Hogg was promoted to head of tour marketing, a new role aimed at integrating tour marketing services within ATC Live. This move will strengthen the London-based company’s approach to live campaigns, focusing on cohesive fan engagement and marketing strategies. Hogg, who joined ATC Live in 2020, has 15 years of experience in the live music industry and has worked with artists like Black Pumas and Aaron Frazer. Her roster will continue to be represented by ATC Live.
Raw Power Management, which like ATC Live is part of the ATC Group, bumped-up Dan Brown to the newly created role of head of A&R. A key figure on the senior management team for over a decade, Brown is currently managing You Me At Six’s farewell tour. In his new position, he will lead talent acquisition, focusing on expanding Raw Power’s diverse roster and signing new acts. The company represents artists like Bring Me The Horizon, Bullet For My Valentine, Jordan Adetunji and Heartworms.
ICYMI:
Jodi Dawes
REPUBLIC Collective announced a big stack of promotions across various departments … Warner Chappell Music elevated Gabz Landman to senior vp of A&R … Fox veteran Nick Terranova joined Dick Clark Productions as its new senior vp of brand partnerships … Ole Obermann is out as TikTok’s global head of music business development … Publicity pro Jodi Dawes landed at Big Machine Label Group … and AEG Presents elevated Andrew Klein to lead its global partnerships division. [Keep Reading]
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The $2.3 billion sale of ASM Global, the facility management firm that manages venues like Soldier Field in Chicago and the Coca-Cola Arena in Dubai, finally closed today, a full 10 months after it was announced that Legends was purchasing the firm from AEG and Canadian private equity firm Onex. The lengthy delay was the result of a U.S. Department of Justice investigation into Legends for allegedly violating anti-trust regulations during its review of the deal, recently disclosed documents show, which led to Legends paying a $3.5 million civil fine.
According to court records in the Southern District of New York — the same court where Live Nation is fighting a historic antitrust case against the DOJ — officials with Legends allegedly “assumed unlawful control over ASM” during a statutory waiting period that required “Legends and ASM to continue to operate as separate and independent entities while the Antitrust Division of the Department of Justice reviewed the acquisition.”
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According to a DOJ complaint, Legends won the right to manage a new arena project in San Diego that had been formerly managed by ASM Global. After winning the contract, Legends assigned some of the responsibility of the contract to ASM, despite not having completed the pre-merger review or received approval from the DOJ.
In August 2023, Legends officials again allegedly violated DOJ rules that the two firms act as separate companies when they bid for a contract in North Carolina to manage an existing entertainment complex. According to the DOJ complaint, “a senior Legends executive emailed Legends’ then-CEO noting, ‘I assume we would rather have ASM chase this?’ The then-CEO informed another executive, ‘we will find out if ASM is bidding as don’t want to both be bidding,’ and set a calendar reminder for himself tospeak with a senior ASM executive about the North Carolina RFP.” The DOJ alleges that Legends and ASM also illegally shared information on two other projects they were bidding for.
Legends was accused of violating the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and agreed to pay a $3.5 million fine, “an amount that is less than the maximum penalty permitted,” government documents reveal, noting “a lower penalty is appropriate because of Legends’ demonstrated willingness to take corrective internal action and fight allegations in court, avoiding “the costs associated with a prolonged investigation and litigation.”
Under the agreement, Legends must “appoint an antitrust compliance officer at its expense, to conduct compliance training, to certify compliance with the Final Judgment, to maintain a whistleblower protection policy, and to provide the United States inspection and interview rights to assess compliance with the Final Judgment,” the documents read.
The sale of ASM Global to Legends got rolling last year after Canadian private equity firm Onex notified AEG of its plans to sell its 35% stake in ASM. Instead of buying out Onex, AEG agreed to put the entire company up for sale. On Nov. 3, Onex and AEG jointly announced that Legends was buying ASM, creating the country’s leading venue management company.
Representatives for Legends and ASM Global did not immediately respond to requests for comment.
“The next era of Legends starts now,” said Dan Levy, CEO of Legends, in a press release issued Friday (Aug. 23). Global investment firm Sixth Streets owns majority control of Legends, with minority stakes held by subsidiaries of the New York Yankees and Dallas Cowboys. Levy, who previously worked at Meta, became CEO of Legends in April.
Ron Bension, ASM Global president/CEO, added, “One of our ASM Global mantras for a number of years has been ‘the future is now.’ By joining Legends, that future has not only arrived, but it couldn’t be brighter. The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide, but the industry as a whole.”
Founded in 2008, Legends now has 400 clients under management including Allegiant Stadium in Las Vegas, Caesars Superdome in New Orleans and OVO Arena Wembley in London. ASM Global will continue to operate under its current name for now.
Moelis & Company LLC and BofA Securities, Inc. served as financial advisors to Legends, while Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP served as its legal counsel. Goldman Sachs and Jefferies served as financial advisors to ASM Global, while Latham & Watkins LLP, Hogan Lovells and Arnold & Porter served as its legal counsel.
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