As announced March 15, Anschutz Entertainment Group is no longer for sale. Rumor has it that bids on AEG fell far short of $8 million which the company expected. Owner Phillip Anschutz intends to take over.
Tim Leiweke is leaving by mutual consent, according to Billboard Magazine. “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,” Anschutz said.
AEG Live's ticket sales are expected to skyrocket this year with national tours by Justin Bieber, Taylor Swift, Bon Jovi, Kenny Chesney and others planned. AEG also owns Goldenvoice, the Souther California events company known for its early beginnings putting on punk rock concerts before exploding into the entertainment giant responsible for Coachella and Stagecoach.
Coachella and Stagecoach are currently besotted with permit and zoning issues as the city of Indio becomes more hip to controlling the festival and making sure they also enjoy some of the profits. Continuing as a wing of AEG may help Goldenvoice in the future.
According to the Los Angeles Times, AEG's issues could mean a delay in a building a new football stadium and professional football team returning to Los Angeles. Football fans remember the good old days when Los Angeles actually supported 2 teams who have now moved on to greener pastures - The St. Louis Rams and the Oakland Raiders.