Sale of AEG, which includes the Los Angeles Kings hockey team and Staples Center, could be worth several billion dollars
The Anschutz Entertainment Group (AEG), which includes properties such as the Los Angeles Kings, the Los Angeles Staples Center, London's O2 Arena, the Coachella music festival and the L.A. Galaxy soccer team, could be going on the auction block, the Wall Street Journal reports.
According to the Journal, parent entity the Anschutz Co. is considering selling the division, which could bring in several billion dollars. The Journal's sources say that the discussions of a sale are in the embryonic stage, and Anschutz could ultimately decide not to sell.
A spokesman for AEG has not yet responded to TheWrap's request for comment.
Anschutz Co., which is controlled by billionaire Philip Anschutz, is primarily an oil and gas company, but its sports and entertainment properties are substantial. The parent company also owns Regal Entertainment Group, which would most likely not be part of any potential deal.
Anschutz's other non-AEG properties include Xanterra Parks & Resorts, which runs hotels in national parks such as the Grand Canyon, and newspapers the Oklahoman and the Washington Examiner, which Anschutz owns through subsidiaries.
News of the possible sale comes as AEG seeks approval to build a stadium in downtown Los Angeles, in hopes of attracting an NFL team. Los Angeles has not had a football team since the mid-'90s.