Los Angeles, CA (January 7, 2009) â€“ Panasonic Corporation of North America and AEG have entered into a long-term agreement that redefines conventional business sponsorships. The just-signed multi-tiered sponsorship agreement names Panasonic as a â€˜Founding Partnerâ€™ (one of eight) of L.A. LIVE, the AEG owned and operated sports, entertainment and residential district in downtown Los Angeles which includes Nokia Theatre L.A. LIVE, Club Nokia, Nokia Plaza, The GRAMMY Museum, Regal Cinemas and The Ritz Carlton and JW Marriott Hotels as well as a â€˜Founding Partnerâ€™ (one of ten) of STAPLES Center, also owned by AEG, beginning in August, 2009. Sports and entertainment fans who will now attend events at the â€˜Panasonic Powered Propertiesâ€™ will benefit from the agreement through an infusion of Panasonic technologies designed to improve entertainment, education, safety, convenience and the environment. Additionally, the agreement includes extensive cross sponsorship opportunities as well as product integration for Panasonic within AEG owned or promoted properties and assets within North America.
"During this time of economic hardship that is affecting so many aspects of business and everyday life, this exclusive and uniquely structured partnership between Panasonic and AEG is designed to stimulate business for a multitude of companies beyond the principal parties, while also bolstering consumer confidence," said J.M. Allain, President of Panasonicâ€™s System Solutions Company business unit. "We have worked hard to redefine traditional sponsorships into true partnerships by committing to a comprehensive investment in resources, affirming our companyâ€™s emphasis on delivering technology-driven solutions that transcend traditional business systems and consumer electronics expectations."
"Panasonic presented AEG with a total solution that addresses all of our technology needs, and that fulfills our commitment to providing a world-class live entertainment experience for the millions of guests who come to L.A. LIVE for the best in sports, music and other live events," said Timothy J. Leiweke, President and Chief Executive Officer of AEG. "The best means of assuring our companyâ€™s continued success is to provide the public with the best possible experience attainable when they visit an AEG venue. Panasonic has proven time and time again their ability to deliver that experience with the broadest range of new technologies available from a single entity. We are excited to begin implementing Panasonicâ€™s solutions from both a business and operations perspective."
Panasonic is at the forefront of technology innovation related to entertainment and sports venues, incorporating cutting edge products in ways that make them integral to everyday life. â€œThe Panasonic experienceâ€ is a part of the adventure for millions of people around the world as exemplified by recent technology installations at the Beijing Olympic Games, Planet Hollywood in Las Vegas, New York Cityâ€™s Times Square, Princess Cruises and the recently announced Major League Soccer sports and community development project in Philadelphia.