AEG Facilities and SMG Announce Merger

Forming ASM Global, a Dynamic Company Spanning Five Continents

LOS ANGELES & WEST CONSHOHOCKEN, Pa. & TORONTO–(BUSINESS WIRE)–AEG Facilities, the venue management subsidiary of AEG, and SMG, an Onex
(TSX: ONEX) portfolio company, today announced they have signed a
definitive agreement to merge. This combination will create a new,
standalone global facility management and venue services company that
will operate as ASM Global (“ASM”). Onex and AEG’s subsidiary will each
own 50% of the company following the completion of the transaction. The
terms of the transaction were not disclosed.


ASM will be headquartered in Los Angeles, CA, with key operations based
in West Conshohocken, PA, a suburb of Philadelphia. Led by the most
experienced team in the industry, the company will operate a diversified
portfolio of arenas, stadiums, convention centers and performing arts
centers, with more than 310 venues across five continents.


Wes Westley, Chief Executive Officer and President of SMG, said, “This
merger is a major step for our industry. We are excited to bring
together these complementary businesses to further elevate the standard
of excellence in venue management. We plan to accelerate innovation by
combining our expertise to deliver increased value and offer enhanced
capabilities to municipalities and venue owners worldwide. At the same
time, we expect that this transaction will offer employees at both our
corporate headquarters and field operations tremendous new
opportunities.”


Bob Newman, current President of AEG Facilities and formerly a Regional
Vice President at SMG, said, “It is an honor and privilege to be a part
of this exciting new company, which brings together the two
organizations where I have worked for the bulk of my professional
career. This transaction draws upon the depth of our combined talent and
resources to create an organization that will deliver value and
long-term success, as well as innovative services to our clients around
the world.”


Following the completion of the transaction, Mr. Newman will be named
President and CEO of ASM. Mr. Westley will join ASM’s Board of
Directors, where he will actively support the merger integration.


Dan Beckerman, President and Chief Executive Officer of AEG, said, “AEG
Facilities has flourished under Bob’s leadership since it was
established a decade ago and this combination will position ASM for
growth by joining the resources and talents of these two companies. ASM
will offer an impressive array of capabilities that will accelerate the
development and deployment of new services and bring diverse business,
sports and entertainment experiences to municipalities, partners and
fans around the world.”


Amir Motamedi, a Managing Director of Onex, added, “With Wes at the
helm, SMG became a gold standard in venue management. We are grateful
for his stewardship over the last 25 years and look forward to his
continued involvement on the board. Looking forward, we are thrilled to
be partnering with Bob Newman and the talented AEG team to create a
larger, more diverse company to better serve ASM’s clients.”


AEG will retain ownership of its real estate holdings outside of this
venture, including its entertainment districts and owned venues in Los
Angeles, London, Hamburg and Berlin, as well as its extensive
development, sports, music and sponsorship divisions. Onex is
contributing its entire equity investment in SMG into the merger. The
transaction is expected to be completed later this year subject to
customary closing conditions and regulatory approvals.


About SMG


Founded in 1977, SMG provides management services to more than 240
public assembly facilities including convention and exhibition centers,
arenas, stadiums, theatres, performing arts centers, equestrian
facilities and a variety of other venues. With facilities across the
globe, SMG manages more than 20 million square feet of exhibition space
and over 1.6 million sports and entertainment seats. SMG provides venue
management, sales, marketing, event booking and programming,
construction and design consulting, and pre-opening services. SMG Europe
manages entertainment venues and food and beverage operations at
locations throughout Europe, including in the United Kingdom, Germany,
and Poland. For more information visit www.smgworld.com
or www.smg-europe.com.


About AEG Facilities


AEG Facilities is a subsidiary of AEG, a leading sports and live
entertainment company. AEG Facilities operates some of the industry’s
preeminent venues worldwide, across five continents, providing complete
venue management, as well as specialized programs in operations, guest
services, ticketing, booking, sales and marketing. AEG Facilities also
provides its clients resources and access to other AEG-affiliated
entities, including AEG Presents, one of the largest live music
companies in the world, AEG Global Partnerships and AEG Real Estate, as
well as such programs as AEG 1Earth and AEG Encore to support the
success of its venues across the globe. For more information, please
visit www.aegworldwide.com.


About Onex


Onex is one of the oldest and most successful private equity firms.
Through its Onex Partners and ONCAP private equity funds, Onex acquires
and builds high-quality businesses in partnership with talented
management teams. At Onex Credit, Onex manages and invests in leveraged
loans, collateralized loan obligations and other credit securities. Onex
has more than $33 billion of assets under management, including
$6.9 billion of Onex proprietary capital, in private equity and credit
securities. With offices in Toronto, New York, New Jersey and London,
Onex and the team are collectively the largest investors across Onex’
platforms.


Onex’ businesses have assets of $52 billion, generate annual revenues of
$32 billion and employ approximately 218,000 people worldwide. Onex
shares trade on the Toronto Stock Exchange under the stock symbol ONEX.
For more information on Onex, visit its website at www.onex.com.
Onex’ security filings can also be accessed at www.sedar.com.


About AEG


Headquartered in Los Angeles, California, AEG is a leading sports and
live entertainment company. With offices on five continents, AEG
operates in the following business segments: AEG Facilities, which
manages or consults with preeminent arenas, stadiums and convention
centers around the world; AEG Presents, which is dedicated to all
aspects of live contemporary music performances, including producing and
promoting global and regional concert tours, music and special events
and world-renowned festivals; AEG Real Estate, which develops
world-class venues, as well as major sports and entertainment districts
like STAPLES Center and L.A. LIVE; AEG Sports, which is the world’s
largest operator of sports franchises and high-profile sporting events;
and AEG Global Partnerships, which oversees worldwide sales and
servicing of sponsorships including naming rights, premium seating and
other strategic partnerships. Through its worldwide network of venues,
portfolio of powerful sports and music brands and its integrated
entertainment districts, AEG entertains more than 100 million guests
annually. More information about AEG can be found at www.aegworldwide.com.


Contacts

SMGSteve PattersonRes Publica GroupTel:
312.504.7848

AEG and AEG FacilitiesMichael RothVP, CommunicationsTel:
213.472.7255

OnexEmilie BlouinDirector, Investor RelationsTel:
416.362.7711