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The Anschutz Corporation is weighing its options surrounding the sale of Anschutz Entertainment Group, an entertainment division of the company that controls venues such as London's O2 arena and the Staples Center in Los Angeles.
Reuters reported that Phillip Anschutz, head of the Anschutz Co., is considering putting AEG up for sale.
According to The New York Times , the sale could bring in billions of dollars for Anschutz.
AEG’s other assets include the Los Angeles Kings hockey team and the Los Angeles Galaxy soccer team, the team that British soccer icon, David Beckham, plays. The company is also involved in running events such as the Coachella music festival. AEG is the nation’s second-largest show promoter, trailing behind Live Nation Entertainment.
This is not the first time that Anschutz has explored the sale of AEG. In 2008, Anschutz Entertainment came close to selling 49 percent of AEG Live to Ticketmaster and Cablevision for $400 million. Ultimately, nothing resulted from the negotiations, and Ticketmaster opted to merge with Live Nation instead.