Silver Lake Bets More Than $100 Million on Venue Company Oak View Group
The Wall Street Journal (March 11, Steele) has learned that "Oak View Group is getting a large cash infusion from private-equity firm Silver Lake." The entertainment and sports-facilities company, headed by music-industry veteran Irving Azoff and sports executive Tim Leiweke, is developing arenas nationwide. It also advises or manages existing venues regarding such matters as sponsorship, security, and concert booking. According to a Journal source, "Silver Lake is offering more than $100 million in exchange for an undisclosed equity stake in the two-year-old company." The fact that a tech-focused private-equity firm with $39 billion in assets is taking an ownership stake in a venue company is further proof of how valuable the live-events business has become.
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