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Statement: The Anschutz Company to Retain Ownership of AEG

Statement: The Anschutz Company to Retain Ownership of AEG

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The Anschutz Company to Retain Ownership of AEG
The Anschutz Company to Retain Ownership of AEG

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Published by: scprweb on Mar 14, 2013
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07/10/2013

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FOR IMMEDIATE RELEASEThe Anschutz Company to Retain Ownership of AEG
Denver, Colorado and Los Angeles, California - March 14, 2013
 – 
The Anschutz Company announcedtoday that it will retain ownership of Anschutz Entertainment Group, Inc. and terminate the sales processfor AEG.Philip F. Anschutz, as Chairman of AEG, will resume a more active role in the Company, with aparticular
focus on the Company’s world
-wide strategy and operations. Dan Beckerman will assume theposition of President and Chief Executive Officer of the Company. Mr. Beckerman joined AEG over 15years ago and previously served as the Chief Financial Officer and Chief Operating Officer.Tim Leiweke, who has served as President and Chief Executive Officer of AEG since 1996, will beleaving the Company by mutual agreement.
“We appreciate the role Tim has played in the development
of AEG, and thank him for the many contributions he has made to the Company. We wish him well in hisnew endeavors
” said Mr. Anschutz.
 Ted Fikre, who joined the Company in 1997, will become Vice Chairman of the Company and continueas
AEG’s Chief Legal and Deve
lopment Officer, as well as assume responsibility for
AEG’s
Governmental and Media Relations. Jay Marciano, currently President and Chief Executive Officer of AEG Europe, will relocate from London to Los Angeles to assume the role of Chief Operating Officer.Todd Goldstein, who has been with the Company since 2001, recently was elevated to Chief RevenueOfficer and will continue in that role. Steven Cohen, Executive Vice President of the Anschutz Company,will serve as
AEG’s
Chief Strategic Officer while re
taining his role at AEG’s parent company
.Mr. Beckerman, Mr. Fikre, Mr. Marciano, Mr. Goldstein and Mr. Cohen, together with Mr. Anschutz,
will constitute AEG’s Office of the Chairman.
 
“From the
very beginning of the sales process, we have made it clear to our employees and partnersthroughout the world that unless the right buyer came forward with a transaction on acceptable terms wewould not sell the
Company” said Mr. Anschutz,
Chairman and Chief Executive Officer of the Anschutz
Company. “
From the very first days of AEG, my vision has been to tie together world class real estatedevelopment structured around entertainment venues with premium sports and live entertainment content.In recent years we have developed related businesses to further promote and enhance the performance of 
AEG’s
facilities for the benefit of our partners, including our sponsors, artists, consumers and thecommunities in which we operate.
The Company’s operations will continue to be run by AEG’s
experienced senior executive team, most of whom have been with AEG for over a decade. We willcontinue to set the standards in the industries in which AEG operates, bringing our unique vision anddevelopment model to entertainment locations throughout the world.
 
“Phil’s activ
e reengagement in the operations of the Company has brought a renewed spirit and passion to
the management team’s
 
focus on AEG’s next steps” noted Dan Beckerman. “
The Company has a numberof interesting business opportunities, and the expertise of the management team and our 26,000
 
employees around the world will allow us to select those prospects that best
enhance the Company’s
performance. Priority projects going forward include the development of Farmers Field adjacent to ourL.A. Live campus and the pursuit of our plan to bring the NFL back to Los Angeles, our recentlyannounced initiative to collaborate with MGM to build a new arena in Las Vegas, the acquisition of ownership stakes and the associated refurbishment of several major global arenas in Europe and ourongoing investment in AXS.com, our ticketing and e-commerce platform, as we expand its capabilitiesfor the benefit of our venues, partners, performers and consumer end-users.
About AEG:
AEG is one of the leading sports and entertainment companies in the world with a network of over 120owned, operated and programmed venues on five continents. AEG is a wholly owned subsidiary of theAnschutz Company. AEG owns or operates many of the world's preeminent entertainment venues suchas STAPLES Center (Los Angeles, CA), The O2 (London, UK), Mercedes-Benz Arena (Shanghai,China), Allphones Arena (Sydney, Australia), O2 World (Berlin, Germany), the Ericsson Globe Arena(Stockholm, Sweden), MasterCard Center (Beijing, China), Ulker Sports Arena (Istanbul, Turkey),BBVA Compass Stadium (Houston, TX), Brisbane Entertainment Center (Brisbane, Australia), TheHome Depot Center (Carson, CA), Best Buy Theater (Times Square, New York), Sprint Center, (KansasCity), Rose Garden Arena (Portland, OR), Target Center (Minneapolis, MN) and the O2 World Hamburg(Hamburg, Germany). Developed by AEG, L.A. LIVE is a 4 million square foot downtown Los Angelessports, residential and entertainment district featuring Nokia Theatre L.A. LIVE and Club Nokia, a 54-story, 1001-room convention "headquarters" destination anchored by The Ritz-Carlton & JW MarriottHotel at L.A., the Ritz-Carlton Residences at L.A. LIVE
and Wolfgang Puck’s flagship restaurant WP 24,
along with entertainment, restaurant and office space. In addition to overseeing a privately held interest inthe Los Angeles Lakers (NBA), assets of AEG Sports include franchises and properties such as theStanley Cup Champion Los Angeles Kings (NHL), MLS Cup Champion L.A. Galaxy, the BerlinEisbaren
, Germany’s championship hockey team, the Amgen Tour of California cycling race and Zazzle
Bay to Breakers foot race. AEG Live, the company's live-entertainment subsidiary, is the world's secondlargest concert promotion and touring company and is comprised of touring, festival, exhibition,broadcast, merchandise and special event divisions with fifteen regional offices. AEG GlobalPartnerships, a subsidiary responsible for worldwide sales and servicing of sponsorships, naming rightsand other strategic partnerships, and AEG Merchandising, a multi-faceted merchandising company, are
also core business units of AEG. AXS.com is AEG’s t
icketing and e-commerce subsidiary, the first phase
of AEG’s new entertainment platform that will be the company's primary consu
mer brand and will alsofeature mobile services as well as video content services. For additional information, visitwww.AEGworldwide.com.Dan Beckerman, President and Chief Executive Officer, first joined AEG in 1997 as Chief FinancialOfficer of the Los Angeles Kings and, as Chief Financial Officer and Chief Operating Officer of AEG,
has played a key role in all phases of AEG’
s growth. Mr. Beckerman previously served as Vice President,Finance for the Los Angeles Clippers and prior to that was a senior accountant at Arthur Anderson. Mr.
Beckerman received his M.B.A. in Finance from the Anderson School at UCLA and his Bachelor’s
Degree in economics with honors from UCLA.

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