AEG is on the auction block with analysts predicting a sale of $7 – 8 billion, according to Billboard. Its assets include powerhouse concert promoter AEG Live which has worked recent tours by Carrie Underwood, Kenny Chesney, Tim McGraw, and Taylor Swift. Among its festivals are Stagecoach, Coachella, and the New Orleans Jazz Heritage Festival.
AEG also owns, operates or has exclusive booking rights to 35 key venues including L.A.’s Staples Center, L.A. Live, and London’s O2 Arena. It has stakes in sports teams including the L.A. Lakers, and L.A. Galaxy, and is seeking approval to build a stadium in L.A. to attract an NFL team.
AEG parent company Anschutz Co., run by Denver billionaire Philip Anschutz, is mostly an oil and gas business.
Anschutz wants to sell AEG as a whole, reports the Wall Street Journal. No suitor has emerged in the lead but the L.A. Times points to hometown billionaire Patrick Soon-Shiong, while Billboard foresees a purchase by a consortium.