The O2 Available As Aeg Goes Up For Sale
US billionaire Philip Anschutz has put AEG – the entertainment group that owns The O2 and a number of venues and sports teams in the States – up for sale.
The Anschutz Entertainment Group owns the Los Angeles Kings and David Beckham’s soccer side, LA Galaxy, as well as Staples Center, and also has a stake in the LA Lakers basketball team.
The O2 is the world’s most successful music venue in terms of ticket sales, and is run by AEG on a long-term lease from the government.
Parent company Anschutz Corporation explained that it was the right time to sell the group, which is the second largest live music company behind Live Nation.
According to media reports, AEG is looking for one party to takeover all assets rather than breaking up the business portfolio, which includes over 100 entertainment venues.
In a statement, the Anschutz Company announced it would undertake the sale to the qualified party best able to reflect the full value of AEG and fully committed to working with AEG’s management team as it pursues its long-term business objectives.
To assist the Anschutz Company and AEG in the sale process, the Anschutz Company has retained as financial advisors Blackstone Advisory Partners, which recently managed the auction of the Los Angeles Dodgers.
