LOS ANGELES (AP) — Billionaire Philip Anschutz says he is pulling AEG off the market and the company that owns the Los Angeles Kings and the Staples Center is no longer for sale.
Anschutz said in a statement Thursday that he had made clear that he wouldn’t sell the company unless the right buyer came forward. He says he will resume a more active role in the company and Tim Leiweke, who has served as president and CEO, is leaving.
The sports and entertainment company was expected to fetch billions of dollars.
AEG’s holdings also include the Los Angeles Galaxy, part-ownership of the NBA’s Los Angeles Lakers, and major entertainment and real estate holdings in Los Angeles.
AEG also is spearheading a stadium proposal to bring back a professional football team to Los Angeles.