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Business News (more headlines) 03-08-2014

AEG Live And Transom Capital Group Announce Merger Of BandMerch And Cinder Block To Create Largest Independent Merchandising Company In United States

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AEG Live and Transom Capital Group announced that it will merge their entertainment licensing and merchandising businesses, BandMerch and Cinder Block, into a standalone entity creating the largest, full-service independent entertainment merchandising company in the United States. The combined company will be home to the largest names in sports and music entertainment including: The Who, Manchester United, Black Veil Brides, Asking Alexandria, Arsenal, Rise Against, All Time Low, Coheed and Cambria, Death Cab for Cutie, Misfits, Postal Service, The National, Flogging Molly and several others. The company will continue as BandMerch and operate from its facility located in Los Angeles, CA. The new entity will maintain a strategic relationship with AEG Live.

"We're extremely excited about this transaction as it pairs two like-minded companies who are focused on bringing the highest level of customer service to our clients," said Joseph Bongiovi, President of the merged companies. "I believe that this combination puts us in a unique place in the market relative to our less sophisticated competitors and, for clients who want a hands-on, full service merchandising strategy, I think we will be the only place to call home."

Jason Greene, CEO of Cinder Block, will continue in this capacity at the combined entity. Commenting on the opportunities the merger presents, Mr. Greene said, "What we're seeing is that clients want a real, multi-channel sales strategy that brings incremental value to the table. The combination of Cinder Block and BandMerch positions us as the leading alternative for artists who are seeking a high-touch, high-service, high-quality experience from their merchandise partner. With our stellar set of resources we will continue to outwork, out-compete and over-deliver on results, providing a superior artistic and operational experience for our artists and their management. After this merger we will boast the single largest mid-tier retail roster in the world, a global touring footprint and leading-edge e-commerce capabilities. The future is bright."

"The business rationale makes perfect sense and the values of BandMerch - customer service, loyalty, dedication - are values that AEG shares and promotes. We think this will be a transformational transaction for both companies," said Rick Webking, CFO of AEG Live.

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