Anschutz puts AEG up for sale
Interesting news in the corporate world today, as several outlets — The Wall Street Journal first, in this item — have reported that the Anschutz Corporation is considering the sale of its AEG brand. For the sake of clarification, the Anschutz Corporation is headed by Phil Anschutz, who took over from his father, Fred, who started the company in 1958. One of the subsidiaries of the Anschutz Corporation is the Anschutz Entertainment Group, more commonly known as AEG, the parent company of the Kings. AEG is a massive worldwide company that oversees arena development and management, concert promotion, media holdings and other interests.
Anschutz/AEG have yet to publicly comment on the report. If it should come to pass, it’s doubtful that there would be much short-term impact on the Kings, as they (as well as Staples Center, the Manchester Monarchs, Toyota Sports Center, etc.) would still be owned by AEG. The change would be at the top of the ladder, with Anschutz no longer on the top rung. It will be interesting to see how this story develops in the coming weeks…
[UPDATE: Late Tuesday afternoon, the company confirmed, with the issuance of a press release, that AEG is for sale. No word of potential buyers has yet emerged.]