The company was formed in 1974 by Flyers founder and chairman Ed Snider as Spectacor, the parent company of both the Flyers and the Spectrum. Snider had been instrumental in getting the Spectrum built in 1967 and assumed control of the arena in 1971. He sold a 63% stake in Spectacor to Comcast in 1996 but remained as chairman of the renamed Comcast Spectacor. Shortly afterward, Comcast Spectacor bought the 76ers; as the Spectrum's owner, Snider had been the Sixers' landlord since 1971. Comcast Spectacor sold the 76ers to Josh Harris in 2011. In April 2016, Snider died at his home in California. On September 22, 2016, Comcast announced that it would buy out the remaining 24% that it did not already own.[2]
Spectra Experiences
Comcast Spectacor is the principal owner of Spectra (formerly Global Spectrum, Ovations and Paciolan). Globally, Spectra serves 300-plus clients at more than 400 properties including public assembly facilities throughout the United States and Canada, such as arenas, civic and convention centers, stadiums, university convocation center, trade and exposition centers, community ice rinks and theaters. Some of the arenas and stadiums currently managed by Spectra are:[3]
Wells Fargo Center is in Spectra's corporate hometown of Philadelphia. The Wells Fargo Center's predecessor, The Spectrum, is the namesake of the company.
Spectra is composed of three divisions: Venue Management (formerly Global Spectrum), Food Services & Hospitality (formerly Ovations Food Services), and Ticketing & Fan Engagement (formerly Paciolan).
On June 12, 2017, Learfield, acquired Spectra's Ticketing & Fan Engagement division – formerly known as Paciolan – from Comcast Spectacor.[4]
In August 2021, it was announced that Spectra would be merging with Oak View Group to form a full-service live events company.[5]
On November 19, 2021, Oak View Group completed the acquisition of Spectra to form a full-service live events company.[6]
Other businesses
Comcast Spectacor owns Ovations Food Services, which provides food and beverage services to arenas, stadiums, amphitheaters, fairgrounds and convention centers throughout the United States. The roots of the name Ovations go back to a restaurant in the Spectrum, which was located below the concourse.[citation needed]
Comcast Spectacor owned the Seoul Infernal, an Overwatch League team formerly known as the Philadelphia Fusion, until the closure of the Overwatch League. The organization partnered with SK Telecom to establish a joint venture with T1 Entertainment & Sports to develop esports teams around the world; Comcast Spectacor currently owns a 32% stake.[7][8]
Comcast Spectacor also oversees G4, a former video game-centric cable and satellite network that was operated by G4 Media from April 24, 2002, to December 31, 2014. The network was relaunched in November 2021 and shuttered in November of the following year.[9][10]
