PDA

View Full Version : AEG for Is Up For Sale. Will Coachella/Goldenvoice Change?



suprefan
09-18-2012, 07:55 PM
Well? I just think its really strange that AEG is thinking about it when they are 6 months away from getting a Football team and a shitload of money....


http://www.huffingtonpost.com/huff-wires/20120918/us-aeg-sale/



Anschutz Entertainment Group, the owner of the Staples Center arena and the NHL's Los Angeles Kings, and the top contender to build a stadium and bring the NFL back to Los Angeles, is up for sale, its parent company said Tuesday.

The Denver-based Anschutz Co. said in a statement that it is "commencing a process" to sell the subsidiary known as AEG and had hired Blackstone Advisory Partners as an adviser.

It wasn't immediately clear how far along the company is in the sale process, or whether it has entertained any offers, but the price for AEG could be well into the billions.

The sale would mean a major ground shift in sports and entertainment in Los Angeles and around the world.

AEG's holdings also include pro soccer's Los Angeles Galaxy, part-ownership of the NBA's Los Angeles Lakers, and major entertainment and real estate holdings in downtown Los Angeles. Outside of L.A., AEG owns Major League Soccer's Houston Dynamo and New York's Barclay's Center, the new home of the NBA's Brooklyn Nets. It also owns arenas in Sweden, China and Australia.

The sale would also throw uncertainty into LA's nearly two-decade attempt to bring the NFL back to the city. The City Council is considering the approval of plans for Farmers Field, a downtown stadium proposed by AEG.

Los Angeles Mayor Antonio Villaraigosa said he has long known of the possibility of a sale, and both Denver billionaire Phillip Anschutz and AEG President Tim Leiweke have assured him the city's NFL hopes will remain the same.

"I have worked with both Phil Anschutz and Tim Leiweke for years to bring a football team to Los Angeles. I speak to both of them on a regular basis and I have known about this potential sale for some time," the mayor said in a statement Tuesday night. "I have the commitment from both of them that this won't affect plans for an NFL team to return to Los Angeles in the near future and so will not affect my support for moving ahead with Farmers Field."

Councilwoman Jan Perry, whose district includes the proposed stadium site, said she did not know about a pending sale but agreed that it wouldn't have adverse effects on courting an NFL team.

"The city has done a good job of protecting the taxpayer's interest in negotiating an agreement," Perry told The Associated Press, "so whoever steps into the shoes of Mr. Anschutz will have the same obligations."

Perry said the move "arguably is very positive" because she suspected it could lead to an enthusiastic new partner anxious to get in on the city's NFL prospects.

The potential sale was first reported by the Wall Street Journal.

AEG transformed the Los Angeles landscape with the building of Staples Center and the later addition of the LA Live entertainment complex, helping to revitalize the city's long-neglected downtown and bring new energy and several championships to its sports teams.

Opening in 1999, the Staples Center is among the world's busiest arenas. It hosted six playoff games in four days for its main tenants the NBA's Lakers and Clippers, and the NHL's Kings, who won their first Stanley Cup in June.

Mugwog
09-18-2012, 07:56 PM
Coachella is projected to not be as cool in the next few years, must sell, sell, sell!

gaypalmsprings
09-18-2012, 08:11 PM
AEG is anti-gay, so this is a good thing.

Drinkey McDrinkerstein
09-18-2012, 08:28 PM
You mean Anschutz is against gay marriage (Well, Phillip Anschutz is, I doubt that that stance is necessairy upheld by the whole board of directors, shareholders, employers, etc of the Anschutz company and their subsidiaries). AEG ( which in turn owns Goldenvoice) is what is under the consideration of being sold.

gaypalmsprings
09-18-2012, 08:34 PM
http://cdn.memegenerator.net/instances/400x/20242828.jpg

nyarlathotoats
09-18-2012, 08:40 PM
Q: Will Goldenvoice change?
A: No. A company that's secure in itself to hold a event every year until 2030, is not in jeopardy of a shitstorm.

suprefan
09-18-2012, 09:10 PM
Q: Will Goldenvoice change?
A: No. A company that's secure in itself to hold a event every year until 2030, is not in jeopardy of a shitstorm.

They pushed back signing a deal til March fo next year. The same time when AEG will find out if they get an nfl team. Hmmmmmmmmmmmm.

Hawkings
09-18-2012, 11:05 PM
Until I few months ago i thought Goldenvoice was still owned by Paul T and was surprised to find out a large conglomete owns it, Anschutz Entertainment Group en.wikipedia.org/wiki/Anschutz_Entertainment_Group (http://en.wikipedia.org/wiki/Anschutz_Entertainment_Group). Any company big enough to own a bunch of arenas like Staples Center, AEG Live and major shares of teams seems huge, with Goldenvoice as just a tiny part. Then to find out that is is only part of an even bigger collection of companies en.wikipedia.org/wiki/The_Anschutz_Corporation (http://en.wikipedia.org/wiki/The_Anschutz_Corporation)...

I wouldn't think anything would happen to Coachella or Goldenvoice, as am sure they are pretty profitable and small in relation to all the other parts of AEG, but it is a bit scary. I would hope it doesn't get smooched or bought by a huge company that would pay too much attention Goldenvoice/Coachella and want to sell more ad space or hype a soft drink, or cross market with other holdings, or micromange the event or only have artists from their other companies play or something.

as an aside: some of AEG's choice of movie projects seem pretty right wing... least they left Chella alone

xuclarockerx
09-19-2012, 12:34 AM
^ movie projects? plz elaborate

gaypalmsprings
09-19-2012, 06:04 AM
Maybe it will be bought by Bain Capital.

heart cooks brain
09-19-2012, 06:25 AM
They pushed back signing a deal til March fo next year. The same time when AEG will find out if they get an nfl team. Hmmmmmmmmmmmm.

8077

n3glect
09-19-2012, 06:37 AM
Yes.

This is not good news for Goldenvoice.

It is impossible to know the impact/influence of a new owner until the sale is made.

However, it is very possible that if someone pays 7BN for a collection of assets, they might want to squeeze that orange for every last drop.

It could result in the addition of corporate sponsorships, parking fees, or worse (if the extension isn't in place before the sale is made.)

Coachella is arguably the most valuable brand on the festival circuit at present. There is a lot more money to be made here. In the wrong hands, it could lead to exploitation.

Bumblebee
09-19-2012, 01:53 PM
Doesn't the Coachella Festival make money on hotel packages? Other festivals don't have that option, with local laws being a factor.

grichsgang
09-19-2012, 03:26 PM
It was widely reported that the entire AEG empire is up for sale. I suspect it is largely because they have moved the ball well down the field toward the goal of getting a football stadium in LA. AEG is the parent of of GV, as most of you know, which is why this is pertinent to this board.

I'm trying to run through in my head whether this will affect our beloved little festival and my sense is that they will either leave it (and GV) alone or spin it off to someone else. Either way, with the event so profitable and it likely being run pretty hands-off by AEG in the first place, I don't see much, if any change to the festival and/or GV. I just hope I'm right.

gaypalmsprings
09-19-2012, 03:32 PM
paging Supre

Hawkings
09-20-2012, 06:38 AM
^ movie projects? plz elaborate

http://en.wikipedia.org/wiki/Atlas_Shrugged_(film), Atlas Shrugged, the right wing fairy tale. Also the CS Lewis series they probably liked due to the Christian themes, Chronicals of Narnia. Through Anschutz directly the fix our schools the privatizing right wing way movies, Waiting for Superman (pro-charter school) and We Won't Back Down (getting charter school through 'parent-trigger')

Hawkings
09-20-2012, 06:44 AM
tertiary article about impact on LA sports http://sports.yahoo.com/news/planned-aeg-sale-means-hazy-083409734--nfl.html

captncrzy
09-20-2012, 07:47 AM
None of you fucking know shit. Choke on dicks.

Sladokusac
09-20-2012, 08:10 AM
whoever buys AEG will get Coachella (AEG owns 50% of Coachella)
they dont want to sell just parts of it, but the whole thing - if you have 8 billion dollars, you get lakers, kings, staples center, all of the 02 arenas throughout the world, coachella etc etc

i think they understand this business is at its peak now, all of the little parts of the company are doing great, and its a great time to sell it as a whole

but the problem is there are not that many players out there with 8 billion in their hands

Mugwog
09-20-2012, 09:27 AM
But I have an article on the internet!

TomAz
09-21-2012, 06:59 AM
None of you fucking know shit.

This includes me. However,


I don't see much, if any change to the festival and/or GV.

stikes me as naive, because


it is very possible that if someone pays 7BN for a collection of assets, they might want to squeeze that orange for every last drop.

gaypalmsprings
09-21-2012, 07:19 AM
Choke on dicks.

I wish.

Drinkey McDrinkerstein
09-21-2012, 11:15 AM
I honestly think Goldenvoice is such a small part of the package and it itself such a self-sustaining profit-maker that it doesn't make much sense to do anything to change it.

However, I would be surprised if potential buyers are looking at the purchase of AEG as a potential profit source in splitting up the assets and selling them individually to different parties. Buy 20 things for $8B and then sell them separately to potentially get back $9 or $10B via the separate sales.

Bumblebee
09-21-2012, 02:16 PM
I honestly think Goldenvoice is such a small part of the package and it itself such a self-sustaining profit-maker that it doesn't make much sense to do anything to change it.

However, I would be surprised if potential buyers are looking at the purchase of AEG as a potential profit source in splitting up the assets and selling them individually to different parties. Buy 20 things for $8B and then sell them separately to potentially get back $9 or $10B via the separate sales.

A lot of that stuff is valuable because it's all under 1 umbrella and has significant potential for "synergy"!!

grichsgang
09-21-2012, 03:15 PM
^ movie projects? plz elaborate

I think he did the Narnia series. Anschutz is also the dough behind the Foundation for a Better Life.

n3glect
09-23-2012, 11:12 AM
If I'm Stan Kroenke, I buy AEG to move my Rams, so I can immediately add $1BN in equity to the franchise. However, I'm still paying a considerable premium for the privilege. I need to offset that elsewhere.

If I'm Live Nation, my mouth is watering. I know this, and have my checkbook ready. I can overpay for the Goldenvoice assets, add to my venue empire, and eliminate a key competitor in tour bidding.

Just speculation, but one of many possible scenarios that would lead to a noticeable/significant change in GV/Coachella by the consumers.

TomAz
09-23-2012, 07:18 PM
Yep.

Best option for Coachella fans is that when AEG gets sold Tollett works some sort of buyout deal to take Goldenvoice back with him. Otherwise we're looking at the possibility of a Nickelback headline and a curtailed undercard.

Edit: don't read this as a prediction, it's more of a concern.

Drinkey McDrinkerstein
09-23-2012, 09:30 PM
If I'm Live Nation, my mouth is watering. I know this, and have my checkbook ready. I can overpay for the Goldenvoice assets, add to my venue empire, and eliminate a key competitor in tour bidding.


Maybe. Anschutz tried to sell 1/2 of AEG to Tiecketmaster a few years ago and Ticketmaster instead merged with livenation.

suprefan
09-24-2012, 08:51 PM
If I'm Live Nation, my mouth is watering. I know this, and have my checkbook ready. I can overpay for the Goldenvoice assets, add to my venue empire, and eliminate a key competitor in tour bidding.




LN doesnt need sports franchises or arenas. And this would be stopped just based off of Anti Trust issues alone. You actually think a legal deal could be made when AEG had been starting its own ticketing system to be able to have something as an alternative to ticketmaster/LN? And they gave them the keys to the house on the ticketing technology to begin with so the TM/LN deal could even pass through anti trust? No way.



None of you fucking know shit. Choke on dicks.

I know shit! But I cant say anything. Trust..................

insbordnat
09-29-2012, 03:37 AM
I see it being broken up. Those vastly diversified holdings and risky/expensive nature of sports franchises etc. don't belong in a solo PE portfolio. This doesn't seem like a good "vanity" purchase either. Rather real estate assets one direction, sports teams another, festivals/music another, unless there are synergies between some (e.g. selling Lakers interest/Staples together).

suprefan
09-29-2012, 09:29 AM
Its pretty much all going to be sold together.

gaypalmsprings
09-29-2012, 09:58 AM
Its pretty much all going to be sold together.

Then it will be sold off in pieces.

http://worddreams.files.wordpress.com/2009/10/four-figures-putting-together-puzzle-pieces.jpg

PlayaDelWes
03-14-2013, 09:33 AM
Nope

Anschutz Pulls AEG Off Auction Block (http://online.wsj.com/article/SB10001424127887323393304578360423849102576.html)

kvnty
03-14-2013, 04:10 PM
good riddance to bad rubbish

Zafocaine
03-14-2013, 04:38 PM
It was widely reported that the entire AEG empire is up for sale. I suspect it is largely because they have moved the ball well down the field toward the goal of getting a football stadium in LA. AEG is the parent of of GV, as most of you know, which is why this is pertinent to this board.

I'm trying to run through in my head whether this will affect our beloved little festival and my sense is that they will either leave it (and GV) alone or spin it off to someone else. Either way, with the event so profitable and it likely being run pretty hands-off by AEG in the first place, I don't see much, if any change to the festival and/or GV. I just hope I'm right.

The event being so popular and seemingly lucrative is exactly what puts the festival in danger. Either it's not making enough money, or it's a liability. Meaning? Change. You don't just sell a series of good things unless you have to, or really want something else instead. Under new management? Whaaaaat? The beans taste the same... Shitballs, this relleno is even better than before (year 1). Jesus Christ, that food was plain, and practically melted into one inedible substance when I reheated it (year 2). Don't count your eggs before your rellenos time, senjor.

That AEG has been dangled like meat should tell you all something, whether it gets sold off, or passed on to another set of sharks. The massive amount of people trying to sell their Coachella tickets this year should tell you even more. I guess directly telling you myself would defeat the purpose of understanding. Float on.

JustSteve
03-14-2013, 05:22 PM
Welcome to another ignore list, my god you're dumb and so ill-informed.

gswhooper
03-14-2013, 08:26 PM
Wow. My head hurts.

Zafocaine
03-15-2013, 02:13 AM
Welcome to another ignore list, my god you're dumb and so ill-informed.

I'm actually astonished you used an apostrophe, considering the rest of the sentence. Why bother? Get your ignore list up to date, kids. Time to separate the weak from the obsolete.