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Unusual Stuff

Concert Giant AEG Up For Sale

Posted 9/19/2012 5:30 am by

The Staples Center can be yours if the price is right!

By acquiring most of the Los Angeles sports scene, from a piece of the Los Angeles Lakers and their home the Staples Center to the Los Angeles Galaxy, the Los Angeles Kings, and Farmers Field (the potential site of LA’s NFL hopes and dreams), Philip Anschutz’s Anschutz Entertainment Group has become one of the powerhouse groups in sports and live entertainment.  AEG also owns the O2 Arena in London, runs the popular AEG Live concert promotion business, and Goldenvoice, who puts together Coachella every year, so they know what they’re doing.  Now, you too can be in the promotion and sports business.  AEG is up for sale and expected to fetch billions for parent company Anschutz Group.

“The new owner will have the historic opportunity to benefit from AEG’s strategy to reunite Los Angeles with the NFL, as AEG moves forward with its efforts to bring an NFL franchise to Farmers Field to be built at L.A. LIVE,” said AEG CEO Tim Leiweke.  “AEG is a proven innovator in real estate, sports and live entertainment, and is at the forefront of shaping the dynamics of these industries.  Live entertainment is the economic driver of the music industry, and fan participation and experience are the cornerstones of professional sports – our platform regularly brings fans, sponsors and world-class talent together to create unparalleled opportunities in both segments.”

I’ll say it does.  Where else can you buy a vast swath of sporting culture AND the second-largest concert promoter in the world with your well-placed billions?  Almost nowhere, that’s where.  Whoever picks up AEG (or its component parts) will be getting an interesting portfolio of stuff.

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