AEG definitely for sale

ANSCHUTZ SELLING AEG: In a move that could dramatically reshape the concert business—and that’s just for starters—Phil Anschutz has decided to sell Anschutz Entertainment Group, its giant sports-and-entertainment subsidiary whose properties include Staples Center, Brooklyn's new Barclays Center, the L.A. Kings and the Coachella Music Festival. The news that the Denver billionaire was considering getting out broke Tuesday afternoon in the Wall Street Journal (see item below) and was confirmed soon thereafter by the L.A. Times. AEG has, of course, been in the news lately resulting from the ongoing lawsuits involving Michael Jackson's ill-fated This Is It concerts in London. The company, which has transformed downtown L.A. in recent years, was also behind Farmers Field, a proposed $1.5 billion downtown football stadium, which was in the final stages of being cleared for construction subject to the company attracting an NFL team to the city. The news immediately brings up some intriguing questions. How much is AEG worth? Who will buy it? And what are Irving Azoff and Michael Rapino thinking? Much more to come on this huge story. (9/19a)