Anschutz Company Says AEG No Longer for Sale

LOS ANGELES — The Anschutz Company announced that while it had been seeking a buyer for Anschutz Entertainment Group (AEG) since Sept. 2012, no suitable offer has been made. As a result, AEG is no longer for sale. In a statement released March 14, The Anschutz Company’s owner, Philip Anschutz, also noted that he will be assuming a more hands-on role again with AEG, and that Tim Leiweke, who had served as AEG’s president and CEO since 1996, is stepping down.

“From the very beginning of the sales process, we have made it clear to our employees and partners throughout the world that unless the right buyer came forward with a transaction on acceptable terms we would not sell the company,” Anschutz said in a statement.

AEG owns more than 100 venues, including Staples Center and London’s O2 arena. Its subsidiary, AEG Live, is the second-largest concert promoter, behind Live Nation. AEG also produces music festivals including Coachella, and its sports franchises include the Los Angeles Kings.

For more information, please visit www.aegworldwide.com.