The AEG team after the Los Angeles Lakers won the championship in 2009. Pictured are CEO Tim Leiweke, VP of Communications Michael Roth, CFO Dan Beckerman and SVP Lee Zeidman.
The Anschutz Company has announced it will retain ownership of Anschutz Entertainment Group (AEG) after months of being on the market for a price exceeding $7 billion. So the company is off the market and will continue business as usual, with one massive change: President and CEO Tim Leiweke will leave.
You know Tim Leiweke. He’s the man who makes most of the on-camera appearances and speeches when it comes to all things AEG. He has been the champion of bringing the National Football League back to Los Angeles and he’s the man whose passion for hockey finally paid off when the AEG-owned Los Angeles Kings won the Stanley Cup last year.
He has served as president and CEO of AEG since 1996. According to the press release, Leiweke is leaving ‘by mutual agreement.’
In our December 2012 magazine, Leiweke spoke to Venues Today Managing Editor Dave Brooks and went over a to-do list of plans for 2013. In it, he mentioned bringing the NFL to L.A., growing the company by signing more buildings, and continuing to develop AXS ticketing.
Going forward, according to the press release, AEG Chairman Philip F. Anschutz plans to take a more active role in the company. Anschutz has historically remained at arm’s length — at least when it comes to AEG’s dealings in California.
“Phil Anschutz has never sat down at the table, in the history of this company, for any of the four projects in L.A. It’s always our management team,” said Leiweke in a Sept. 20 VT Pulse interview, which was aimed at assuring the industry nothing would change if AEG sold.
Now, Anschutz will focus on AEG’s strategy and operations worldwide. He said that though the intent to sell was announced last September, the sale was never a sure thing.
“From the very beginning of the sales process, we have made it clear to our employees and partners throughout the world that unless the right buyer came forward with a transaction on acceptable terms we would not sell the company,” said Anschutz in the press release.
He added that “the company’s operations will continue to be run by AEG’s experienced senior executive team, most of whom have been with AEG for over a decade.”
Joey Dennis, general manager of Gwinnett Center, Duluth, Ga., the latest client announced for AEG Facilities (VT Pulse, March 13), expressed a comfort level with that statement. Dennis received an email this morning with the announcement of the change in leadership and the decision not to sell AEG.
“I thought a lot of Tim and his leadership. I hate to see him leave. He’s a phenomenal leader, but I have a lot of confidence in Bob (Newman), Dale (Adams), Larry (Vallon), and Brian Perez (all with AEG Facilities, AEG Live and AXS Ticketing), so my comfort level is the same,” Dennis said from his perspective as a new client venue.
Management Realignment
Announced changes at AEG so far include appointment of Dan Beckerman, who joined AEG more than 15 years ago, to the role of president and CEO. Previously, Beckerman served as chief financial officer and COO.
“Phil’s active reengagement in the operations of the company has brought a renewed spirit and passion to the management team’s focus on AEG’s next steps,” Beckerman stated in the press release.
Those steps include developing the Farmers Field project and bringing the NFL back to Los Angeles, and collaborating with MGM to build an arena in Las Vegas. (Read the Las Vegas arena story, here.)
Beckerman also noted continued investment in AXS.com and acquiring ownership stakes in European arenas as priorities. In fact, AEG also announced its new role in in Brussels (Belgium) National Arena, Palais 12, today. AEG Facilities will provide “comprehensive venue services” for the 15,000-seat arena, which opens in June.
Jay Marciano, still listed as president and CEO of AEG Europe, was quoted in that earlier press release regarding Brussels. An hour later it was announced he is relocating to Los Angeles to assume the role of chief operating officer for AEG.
Marciano has a high profile in the industry, having previously served for six years as president of MSG Entertainment, part of the Madison Square Garden Company. Before going to MSG, Marciano was chief strategy officer of AEG Live, and, before that, president and CEO of Universal Concerts.
Ted Fikre will become the company’s vice chairman and assume responsibility for the governmental and media relations, while continuing as chief legal and development officer.
Todd Goldstein will continue as AEG's chief revenue officer, and Steve Cohen will take on the position of AEG’s chief strategic officer while retaining his role as executive VP of the Anschutz Company. — (Linda Deckard contributed to this story.)
Contact: Michael Roth, (213) 742-7155