Colorado billionaire Philip Anschutz: AEG no longer for sale
Last Updated: 72 days ago
DENVER - Colorado billionaire Philip Anschutz says he is pulling AEG, the company that owns the Los Angeles Kings and the Staples Center, off the market.
Anschutz said in a statement Thursday that he had made clear that he wouldn't sell the company unless the right buyer came forward. He says he will resume a more active role in the company and Tim Leiweke, who has served as president and CEO, is leaving.
The sports and entertainment company was expected to fetch billions of dollars.
AEG has extensive holdings across the globe. AEG owns a collection of sports teams and arenas, including the Staples Center in Los Angeles, the AT&T Center in San Antonio and the AmericanAirlines Arena in Miami.
The company also owns the Los Angeles Kings hockey team and L.A. Galaxy soccer team. AEG owns or operates such venues as The O2 in London, Best Buy Theater in New York City and Sprint Center in Kansas City, the Business Journal reported.
Based in Los Angeles, AEG is a wholly owned subsidiary of The Anschutz Company. The Anschutz Company is a Denver-based company.
The Anschutz Company owns The Broadmoor, the Pikes Peak Railroad, the Regal move theater chain, Xanterra Parks & Resorts, Anschutz Film studio, oil and gas exploration companies and more, according to an overview published last year.
Anschutz was recently named the third most powerful person in sports by Sports Illustrated (SI).
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