AEG for Sale?

[YankeeFan]

Could be a big story across a number of sports:

The Anschutz Corporation is weighing a sale of Anschutz Entertainment Group, a sports and entertainment company, a person briefed on the matter told DealBook on Tuesday.

It was not clear how much a sale would fetch, and Anschutz, which is controlled by its namesake billionaire owner, Philip Anschutz, may still decide against a sale.

Based in Los Angeles, Anschutz Entertainment has grown into a multiarmed entertainment giant, involved in running facilities like the Staples Center in Los Angeles and events like the Coachella music festival; owning sports teams like the Los Angeles Kings hockey team; and selling tickets through its AEG Live subsidiary.

Anschutz Entertainment came close to selling about 49 percent of AEG Live to Ticketmaster and Cablevision four years ago, though nothing came of the talks. Ticketmaster instead merged with LiveNation, though the combined entity agreed to license its ticketing software to AEG Live to satisfy regulators.

http://dealbook.nytimes.com/2012/09/18/anschutz-said-to-explore-sale-of-entertainment-group/?smid=tw-nytimessports&seid=auto

 

[DanOregon]

Hard to believe someone would have that kind of money and expertise to swallow the thing whole.
Arena management, sports franchises, film and TV, event production...

 

[MileHigh]

No question mark needed. It's happening.

This is a pretty big deal in of itself, to say nothing of the future (or lack thereof) of the NFL in L.A.

 

[MileHigh]

Hard to believe someone would have that kind of money and expertise to swallow the thing whole.
Arena management, sports franchises, film and TV, event production...

We just saw the Dodgers fetch $2 billion in that market, so nothing would surprise me.

 

[HanSenSE]

Definitely deserves its own topic. I believe AEG controls quite a few of the newer MLS stadiums as well as owning the Houston team.

 

[Beef03]

I wonder if this is behind Daryl Katz's meltdown on Monday in Edmonton over the construction of the Oilers's new arena, particularly a clause that no one had heard about until now but was supposedly part of the deal from the beginning that the city would subsidize operational costs at a clip of $6 mil a year when it was the Katz run group who was supposed to be on the hook for it in agreement for public funding to build the arena. AEG I believe was at the minimum in an advisory capacity for the project with Katz, and likely held some kind of operational role as well. Now there is panic that the deal may be yanked and the Oilers headed out of town. From my understanding from afar.

 

[TigerVols]

YF channeling D_B here...suggest you check out TJ's column that I link to on the original thread.

 

[YankeeFan]

YF channeling D_B here...suggest you check out TJ's column that I link to on the original thread.

Just pulled it up.

Wasn't following that thread, so didn't realize it was being discussed there.

 

[MileHigh]

Very interesting column by T.J., to say the least. A lot of it is hunch and nothing on the record or facts to back it up, but interesting, to say the least.

 

[YankeeFan]

Anschutz has long given Leiweke tremendous latitude.

I'm surprised to read their relationship became "strained" over the NFL stadium. True? Has that been reported elsewhere?

 

[Riptide]

Simers link now here, too:

http://www.latimes.com/sports/football/nfl/la-sp-0919-simers-aeg-nfl-20120919,0,1262369.column

 

[YankeeFan]

As a side note, Patrick Soon-Shiong was not someone I was previously familiar with. Sounds like a pretty fascinating guy.

 

[HanSenSE]

Simers link now here, too:

http://www.latimes.com/sports/football/nfl/la-sp-0919-simers-aeg-nfl-20120919,0,1262369.column

Good read. Would not be surprised if this is how it plays out. But this is also more than returning the NFL to LA. AEG has its thumbs in so many things ... MLS, NHL, entertainment.

 

[qtlaw]

As a side note, Patrick Soon-Shiong was not someone I was previously familiar with. Sounds like a pretty fascinating guy.

Maybe he can buy the A's and build them a stadium next to my office in Oakland.

 

[SoCalDude]

Simers link now here, too:

http://www.latimes.com/sports/football/nfl/la-sp-0919-simers-aeg-nfl-20120919,0,1262369.column

Why can't he write like this all the time and cut the other antagonistic crap.

 

[Riptide]

Simers link now here, too:

http://www.latimes.com/sports/football/nfl/la-sp-0919-simers-aeg-nfl-20120919,0,1262369.column

Why can't he write like this all the time and cut the other antagonistic crap.

Oh, no. T.J. spins gold with his antagonistic crap. And who else can pull that off?

 

[LongTimeListener]

Rumors of a new name in the ring: Larry Ellison.

http://www.mercurynews.com/business/ci_21755035/oracles-larry-ellison-eyes-fellow-billionaires-anschutz-entertainment

Man, you thought you've seen some egotistical assholes in sports before ...

 

[TigerVols]

I kind of like the idea of Ellison getting involved.

For one, he's local. For two, he's a visionary, with the wallet to match.

BTW, the guy has bought up something like 9 of the 30 homes on Malibu's Carbon Beach, known as the swankiest address in California.

 

[Riptide]

And when he gets bored with Malibu ...

On June 21, 2012, Hawaii's governor, Neil Abercrombie, declared that Larry Ellison had signed an agreement to buy the most of the island of Lanai from the Castle & Cooke company, owned by David H. Murdock. As a result of his purchase, Larry Ellison owns 98% of Lanai, Hawaii's sixth-largest island. Once known for its pineapple fields, Lanai is now visited for its two resorts, golf courses and luxury housing.

 

[HanSenSE]

Sale off, Leiweke out:

http://www.bloomberg.com/news/2013-03-14/anschutz-co-says-it-won-t-sell-aeg-president-leiweke-leaving.html