Tuesday, January 22, 2013

#2 U.S. Concert Company AEG Close To Sale

Bruce Houghton/Hypebot

Leiweke told Billboard.biz that the sale of the concert and entertainment giant was taking longer than expected because of strong interest from potential buyers. However, that field appears to be narrowing as the sale draws closer to a completion, and that the bidding for the company may reach as high as $8 billion.

Leiweke did not reveal a list of potential buyers for the company, but some of the names mentioned as interested parties include private real estate investment Colony Capital and investment firm Guggenheim Partners.

"We're getting down to the final straws here," Leiweke told Billboard.biz "the kind of people and companies interested are very good, and they share our vision for the future of the company. Now it's just trying to get Mr. Anschutz and [potential buyers] together on the right deal."

Leiweke also said that while his role with the company will be contigent on the will of the new owners, he is hopeful that he will remain at the helm of the company. He also noted that a number of key management personel are expected to remain with the company such as Randy Phillips, president of AEG Live.

"The good news is we tied up all of our key management long term. Everyone is very committed here. I'm very committed to them, they're committed to me, we all have an enthusiasm for this business," Leiweke told Billboard.biz. - via

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