Thursday 20 September 2012, 11:45 | By CMU Editorial
AEG could fetch $7 billion
The Anschutz Company will be looking for $7 billion for its entertainment unit AEG, which owns a network of entertainment venues, interests in many sports clubs and the AEG Live business, the second biggest concert promoter in the world. AEG’s current owners let it be known it was planning to sell its entertainment business earlier this week.
According to Billboard, insiders have said that AEG has “multiple suitors”, even with the $7 billion price tag. As previously reported, Anschutz wants to sell AEG to one party, and has said that it is in no particular hurry to sell, and is committed to finding the right buyer. The Blackstone Group is advising on the sale.