Anschutz Entertainment Group

March 15, 2013 by  

Anschutz Entertainment Group, The billionaire Philip F. Anschutz said on Thursday that he has called off efforts to sell the Anschutz Entertainment Group, a sports and live entertainment juggernaut that owns stakes in the Los Angeles Lakers and the Los Angeles Kings.

The company’s chief executive of 17 years, Tim Leiweke, will step down and will be replaced by Dan Beckerman.

The decision, which appeared more likely over the past several weeks, was driven by what Mr. Anschutz said was increasing irritation over leaks from the process — and what he implied was a too-low price and bids that would seek to break up the entertainment empire.

“From the very start, I have been clear not only to A.E.G., but to anyone else willing to listen, that while we had been willing to consider a sale of A.E.G., it would depend on the buyer, the terms and the price,” Mr. Anschutz said on a conference call with reporters.

“And even then, the odds were still less than 50-50 that I would sell it.”

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