Live and in the Palm Springs area, however, he is rarely spotted in public. It has been one of the key actors in the renaissance of downtown Los Angeles over the last decade and a half.
Staples Center and L. AEG has also been a major presence in civic affairs, including its highly watched campaign to bring pro football back to Los Angeles, in a new stadium to be built on its downtown land called Farmers Field. The tour sparked a lawsuit against AEG by the Jackson family seeking hundreds of millions of dollars in damages.
The family accused the company of negligence for hiring Dr. Conrad Murray, who gave Jackson a fatal dose of anesthetic. One of the keys to profitability is multimillion-dollar sponsorships of AEG arenas, events and sports teams. Nutrition company Herbalife pays an undisclosed amount to put its name on the jerseys of AEG-owned soccer team the Los Angeles Galaxy and keeps its world headquarters in offices at L.
Live rented from AEG. AEG also provides ticketing services and promotes musical tours and sports events that keep arenas active. AEG had been planning to develop an arena there with MGM Resorts International as early as but shelved the project as the economy tanked. Now the 20,seat arena — about the same size as Staples Center — is back on track, with construction to start May 1.
Other targets of blame include the NFL, football team owners and city leaders. Both received some public financial support in the form of tax reductions, but Anschutz put millions of his own dollars on the line to fund the projects — which developers are typically loath to do.
AEG is still expanding its horizons downtown. Live, and is contemplating potential development for a garage rooftop it controls near the Harbor Freeway. Lewis book series strongly associated with Christian themes. And while Coachella has already sold out and all performers' contracts have presumably been signed, given the mood of the country in the wake of the recent presidential election, it seems likely this situation will take several more twists and turns before the last act leaves the festival stage on April Search term.
Billboard Pro Subscribe Sign In. Top Artists. Top Charts. Hot Songs. Billboard Top Videos. Top Articles. Lakers game at Staples Center. In Denver, Joe Nacchio ran the show at Qwest, the fiber-optic communications company Anschutz founded in In Los Angeles, Leiweke was the man.
The recent media tour was a calculated move by Anschutz to spread the message that he is still interested in bringing an NFL team back to L. AEG officials insisted from the get-go that the company would not be chopped into pieces for a sale. Between the failed Denver convention center bid and the opening of Staples Center in , Anschutz amassed a multibillion-dollar fortune, thanks in large part to the sensational rise of Qwest, which started as a side project of his railroad business.
Anschutz held a sizable stake in Southern Pacific at the time. Anschutz and Roski previously worked together on commercial developments along the Southern Pacific Railroad. Several sites were under consideration for the new arena, when Steve Soboroff, a deputy mayor to former L.
Roski and his team did the initial work in getting the project through the City Council — despite threats of a referendum opposing it and other pushback. Construction on Staples Center was completed in 18 months.
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