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Buyer for Anschutz's AEG may be difficult to fiind
Nearly two decades since Phil Anschutz began compiling the pieces of Anschutz Entertainment Group, the Denver billionaire this week put a "for sale" sign on the now mammoth company featuring a dizzying array of sports, entertainment and real estate assets.
The surprising move raised questions about timing and whether a single entity could absorb the entire operation as Anschutz apparently desires.
Los Angeles-based AEG controls or is associated with more than 100 arenas and facilities that serve as home to the company's sports franchises or as host to performances by its roster of musical acts. AEG also has retail, office and residential developments that pair with its sports-related holdings to form an entertainment hub, such as L.A. Live in Los Angeles.
Anschutz believes, and some experts agree, that the timing for a sale is ideal. Many of the company's assets are at or near peak value, from the Stanley Cup champion Los Angeles Kings to the top-grossing music festival Coachella to the world's second largest concert promoter, AEG Live. AEG also owns major league soccer's reigning champ Los Angeles Galaxy and a minority stake in pro basketball's Los Angeles Lakers, one of the favorites to win the title this year after landing star center Dwight Howard.
Read more: Buyer for Anschutz's AEG may be difficult to find - The Denver Post http://www.denverpost.com/breakingnews/ci_21586347/buyer-anschutzs-aeg-may-be-difficult-find#ixzz26y37aOZb
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
The surprising move raised questions about timing and whether a single entity could absorb the entire operation as Anschutz apparently desires.
Los Angeles-based AEG controls or is associated with more than 100 arenas and facilities that serve as home to the company's sports franchises or as host to performances by its roster of musical acts. AEG also has retail, office and residential developments that pair with its sports-related holdings to form an entertainment hub, such as L.A. Live in Los Angeles.
Anschutz believes, and some experts agree, that the timing for a sale is ideal. Many of the company's assets are at or near peak value, from the Stanley Cup champion Los Angeles Kings to the top-grossing music festival Coachella to the world's second largest concert promoter, AEG Live. AEG also owns major league soccer's reigning champ Los Angeles Galaxy and a minority stake in pro basketball's Los Angeles Lakers, one of the favorites to win the title this year after landing star center Dwight Howard.
Read more: Buyer for Anschutz's AEG may be difficult to find - The Denver Post http://www.denverpost.com/breakingnews/ci_21586347/buyer-anschutzs-aeg-may-be-difficult-find#ixzz26y37aOZb
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
He's bailing because of the NHL. And there goes an NFL team in LA.
