Potential AEG Bidders Include Westfield, Steven Mnuchin (Report)
Bids for the entertainment group could arrive as soon as next week, according to one report.
Some additional names and details have surfaced about those vying to buy Anschutz Entertainment Group.
Those interested in AEG include Westfield shopping center group; OneWest Bank's Steven Mnuchin; Qatari Sports Investment; Colony Capital; and healthcare billionaire Patrick Soon-Shiong, according to the Financial Times. The potential bids were said to be valued in the $5 billion to $8 billion range and could be submitted by next week, the U.K. newspaper stated.
Ron Burkle, the supermarket magnate, was confirmed to be vying for the entertainment group, the Sacramento Bee reported on Saturday. Guggenheim Partners, which recently acquired the Los Angeles Dodgers for $2 billion, was stated by the FT to be interested in AEG. (Guggenheim Partners also owns Guggenheim Digital media, which includes The Hollywood Reporter.)
The CEO of AEG, Tim Leiweke, recently stated that the sale of the company was taking longer than anticipated due to outsized interest.
"Unfortunately, it's taking longer because more people were interested than we ever imagined, so there has been a lot of time and energy spent with a lot of different people looking at the company," Leiweke told Billboard.biz.
AEG, owned by billionaire Philip Anschutz, publicly stated that it was for sale last September.
Assets include AEG Live, Staples Center and L.A. Live and the Coachella music festival. The company also has ownership stakes in teams such as the Los Angeles Lakers, soccer franchise the L.A. Galaxy and hockey's L.A. Kings.
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