Report: Anschutz considers selling AEG*

anschutz.jpgThat would be Anschutz Entertainment Group, the L.A.-based sports-and-entertainment empire whose properties include the Kings hockey team (50 percent holding), the Galaxy soccer team, Staples Center, the Home Depot Center, L.A. Live, and many others. The WSJ, citing sources, says that deliberations are at an early stage and that it's possible Denver billionaire Philip Anschutz might decide not to sell the operation. AEG has become a huge force, but Anschutz made his big money in oil and gas. Who knows how this will play out but any sale might complicate efforts to build a downtown football stadium and purchase an NFL team.

*Update: Anschutz has just put out a press release announcing that AEG is on the block. Blackstone Advisory Partners, which handled the Dodgers sale, is being brought on as a financial advisor. As these things go, it's a pretty elaborate release, reading like a long for-sale listing.

The Anschutz Company will undertake the sale to the qualified party best able to reflect the full value of AEG and fully committed to working with AEG's management team as it pursues its long-term business objectives. With this unique international platform, the new owner of AEG will be able to capitalize on the growing global demand and value of live sports and entertainment content linked to important real estate developments on a worldwide basis. AEG's exceptional network of strategically integrated real estate, sports and entertainment assets in key world markets has transformed the business model of live entertainment and sports - and positively impacted whole cities in the process. AEG delivers growth and profitability through its unique combination of venues, content, distribution and services, covering all aspects of production, including content development and ownership, talent management, promotion, ticketing, marketing, and distribution.

**Update: This from Mayor Villaraigosa's office:

"I have worked with both Philip Anschutz and Tim Leiweke for years to bring a football team to Los Angeles. I speak to both of them on a regular basis and I have known about this potential sale for some time. I have the commitment from both of them that this sale will not affect plans for an NFL team to return to Los Angeles in the near future and will not affect my support for moving ahead with Farmers Field and the Convention Center site."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
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