SMG TO MANAGE ICONIC GREEK THEATRE

CONSHOHOCKEN, PA (September 29, 2015) – On Tuesday, Sept. 22, 2015, the Los Angeles Department of Recreation and Parks Board voted unanimously to approve SMG’s management agreement to operate the iconic Greek Theatre, which concluded the selection process of a private, third-party operator under the Board’s new ‘Open Venue’ model. The historic Greek Theatre is owned by the City of Los Angeles and is currently operated by Neederlander Concerts.

In its transition to an Open Venue model, the Parks Department conducted a competitive selection process, which involved evaluating proposals from two venue management firms – Global Spectrum L.P. d/b/a Spectra and SMG. The Board’s evaluation panel ranked SMG the highest based on several scoring criteria.

SMG will provide full management and operational services for the Greek under an agreement that will have a one (1) year term, with two (2) successive one-year options that can be exercised at the discretion of the Board.

“We are very excited to be working with SMG at the Greek,” said Mike Shull, General Manager of the Los Angeles Depart-ment of Recreation and Parks. “They manage some of the most recognizable facilities in the world.”

SMG is expected to assume its new role, effective November 1, 2015. The Greek Theatre season starts April 15 and runs through October 31 each year. Promoters and event organizers have already submitted a significant number of requests for date holds through a lottery conducted by the Parks Department. SMG and the Park Board are estimating the venue will host approximately 70 live events next season, which is consistent with the past.

“We welcome the Greek Theatre to our SMG family of facilities,” said Wes Westley, SMG’s President and CEO. “We are honored to have been selected and are looking forward to getting started.”

“Everyone in the industry knows the Greek Theatre and we are honored that the Park Board has chosen SMG to operate its crown jewel,” said Doug Thornton, SMG’s Executive Vice President. “There are so many features that make this facility unique. We recognize the legacy of the venue, its significance to the community and the standard of care that is needed to operate within the confines of a neighborhood environment. We look forward to working with all of the promoters to offer the best in live entertainment, while preserving the legacy of this great facility.”