By Danielle and Andy Mayoras, Contributor
Jury selection begins today in the trial of Katherine Jackson and Michael’s children against concert promoter AEG Live. The Jackson heirs reportedly will ask the jury for $40 billion in damages against AEG Live. They blame the company for Dr. Conrad Murray‘s ill-fated propofol treatment of the late King of Pop. …read more
Source: FULL ARTICLE at Forbes Latest
By The Huffington Post News Editors
LOS ANGELES — City Council President Herb Wesson on Tuesday cautioned against prematurely abandoning support for professional football in Los Angeles, saying he is convinced billionaire Philip Anschutz is sincere in his plans for bring a team to the L.A. Live site.
“I talked with (Anschutz) after he made his decision to not sell AEG and he told me that he is continuing to actively pursue professional football and he has a number of other plans for Los Angeles,” Wesson said.
“I think we have to give him some room. Everything he and his company have promised has been accomplished. “
When cop killer Christopher Dorner was on the loose and terrorizing southern California, some 30 groups joined together to put a $1 million price on his head. But after the former LAPD officer killed himself while barricaded in a mountain cabin in February, some of those groups have gotten stingy.
A law enforcement union became the latest of the contributors to voice second thoughts about its $60,000 share of the reward, following a similar decision by the city of Riverside to withdraw its pledge of $100,000. With Dorner dead and no shortage of prospective claims to the pot, it seems some of the groups behind the reward have developed an appreciation for fine print. Specifically, the part that authorized a payout for information leading to the “arrest” and “conviction.”
“It’s on hold,” Ron Cottingham, president of the 64,000-member Peace Officers Research Association of California, told FoxNews.com. “The authorization for that pledge came from the board of directors. And since the circumstances under which they offered the pledge toward the reward do not seem to have been fulfilled, it’s still on hold.”
A couple who was bound in their mountain condo by Dorner and a camp caretaker he carjacked have laid claim to the reward, which officials have said they hope to dole out by mid-April. Both parties say they provided authorities the crucial tip that allowed police to corner Dorner in a vacant mountain cabin before killing himself after a shootout on Feb. 12. Dorner, 33, killed four people, including two police officers, during his weeklong rampage.
During that manhunt — portions of which were broadcast live on national television — LAPD Chief Charlie Beck and Los Angeles Mayor Antonio Villaraigosa coordinated a $1 million reward from more than 30 agencies, corporations and associations including the FBI, the U.S. Marshals Service, the Los Angeles Dodgers, AEG and the University of Southern California. And while crime rewards typically lead tipsters to protect their identities, the well-publicized killing spree had the opposite effect, according to LAPD detective.
“Everybody’s coming out of the woodwork on this one,” LAPD Detective Andy Neiman told the Associated Press. “These people are being very public about it because they know Dorner can’t come after them.”
Both Beck and Villaraigosa have said they’d like to see the reward paid out. LAPD spokesman Richard French told FoxNews.com that authorities from the relevant agencies will meet in the next two weeks to correlate their findings regarding the reward and determine who was ultimately responsible for Dorner’s capture.
“It is a very unique situation because we have so many jurisdictions involved and so many people pledging rewards,” French told FoxNews.com.
The city of Riverside, however, which saw one of its officers gunned down by Dorner, has announced its pledge of $100,000 is no longer on the table.
City spokeswoman Cindie Perry, who did not return requests for comment, told the Los Angeles Times that the City Council resolution indicated that the reward money was for information leading to an arrest and conviction — neither of which were met.
“Because conditions were …read more
Source: FULL ARTICLE at Fox US News
What is the real reason billionaire Philip Anschutz terminated the sale of AEG, the holding company that counts the NHL’s Los Angeles Kings, Staples Center, and O2 World in Berlin among its prized assets? …read more
Source: FULL ARTICLE at Forbes Latest
The Anschutz Entertainment Group Inc., which owns the Los Angeles Kings as well as other sports properties, no longer is being offered for sale, it was announced Thursday.
Also announced was the departure of company president Tim Leiweke, a key… …read more
Source: FULL ARTICLE at NHL
By Arash Markazi The Anschutz Company announced Thursday that it will retain ownership of Anschutz Entertainment Group and terminate the sales process for AEG. …read more
Source: FULL ARTICLE at ESPN Headlines
Billionaire Philip Anschutz has taken his eponymous media, real estate and sports empire off the auction block. The CEO of Anschutz Entertainment Group, Tim Leiweke, will also be leaving the company. The Anschutz Entertainment Group announced Thursday that Chairman Anschutz would retain ownership of the company and “resume a more active role,” according to a press release. That decision ends months of speculation surrounding the possible sale of a conglomerate valued by FORBES to be worth between $8 and $10 billion. Anschutz has been looking for a buyer since last fall and hired the Blackstone Group–the same firm that handled the sale of the Los Angeles Dodgers–to explore the sale. While there were plenty of reports linking AEG to possible suitors, among them billionaires Patrick Soon-Shiong and Oracle CEO Larry Ellison, a deal never materialized. “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 a statement. An enterprise that lacks comparison, AEG owns some of the world’s largest entertainment venues, including Los Angeles‘ Staples Center and London’s O2 Arena, and maintains stakes in sports teams, among them a 27% stake in the Los Angeles Lakers and full ownership of the Los Angeles Galaxy. The company is also heavily involved in real estate development and sports and entertainment ticketing. According to sources close to the company, AEG generates annual operating income (earnings before interest, taxes, depreciation and amortization) in excess of $300 million and has less than 20% debt on its balance sheet. Anschutz’s decision to keep AEG comes in light of more setbacks to the company’s planned National Football League stadium in Los Angeles. Last week, Yahoo! Sports reported that the $1.8 billion plan to build a football venue in the heart of L.A. was “unworkable,” according to sources sources within the NFL. Los Angeles, the nation’s second most populous city, currently lacks a professional football team. The stadium issues and the failure to find a buyer for AEG has also led to a shakeup within the company. AEG CEO Time Leiweke, who has served in that position since 1996, will leave the company “by mutual agreement,” according to the press release, and will be replaced by former COO and CFO Dan Beckerman. “Priority projects going forward include the development of Farmers Field adjacent to our L.A. Live campus and the pursuit of our plan to bring the NFL back to Los Angeles,” said Beckerman in a statement. Additional reporting by Brian Solomon and Mike Ozanian in New York. Follow me on Twitter at @RMac18. …read more
Source: FULL ARTICLE at Forbes Latest
By Kevin Chen, The Motley Fool
Filed under: Investing
Kicking off with a soccer match-up between the LA Galaxy and Portland Timbers on June 19, eBay’s StubHub will become the first-ever ticketing company with its name on a public venue.
Today, StubHub struck a deal with AEG to rename Home Depot Center in Carson, Calif., as the StubHub Center. The deal is part of AEG and StubHub’s global partnership to help “re-birth” the 10-year-old facility, announced in Nov. 2012. Financial terms of the agreement were not disclosed.
Home to the the LA Galaxy and Chivas USA, the StubHub Center will also remain an official U.S. Olympic and Paralympic training site and the training center for the U.S. Soccer Federation, U.S. Tennis Association, and USA Cycling. Altogether, the site houses a 27,000-seat soccer stadium, 8,000-seat tennis stadium, 2,450-seat indoor velodrome, and 2,000-seat track and field facility.
Started in 2000, StubHub now has partnerships with more than 100 sports properties and brands, including ESPN, MLB, NFL, and more.
The article eBay’s StubHub Center: First Ever for a Ticketing Company originally appeared on Fool.com.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
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By Business Wirevia The Motley Fool
Filed under: Investing
StubHub Becomes New Naming Rights Partner for the Home Depot Center in Carson, Calif.
Home of the MLS Champion LA Galaxy and Chivas USA Teams to be re-named StubHub Center
SAN FRANCISCO & CARSON, Calif.–(BUSINESS WIRE)– StubHub, the world’s largest ticket marketplace, entered into an agreement with AEG in which the San Francisco-based company will become the new naming rights partner of The Home Depot Center in Carson, Calif. on the campus of California State University, Dominguez Hills. Effective June 1, 2013, the 125-acre multi-sport facility will become ‘StubHub Center,’ which represents the first-ever naming rights partnership for the ticketing company and leading consumer brand.
Just as StubHub has utilized technological innovation to revolutionize the ticketing industry, StubHub will do the same in transforming the live event experience at StubHub Center, with a focus on providing several ‘fan-friendly’ activation components at the facility. In addition, the long term multi-year agreement will provide StubHub on-site assets including prominent, permanent signage of two giant digital freeway marquee signs as well as throughout the entire 125-acre facility, on-site interactive fan experience activities, integration into the official venue website and LA Galaxy team marketing assets. Financial terms of the agreement were not disclosed.
“As leaders in the ticketing industry, providing the highest levels of customer satisfaction and as an increasingly popular consumer brand, this partnership is groundbreaking for our company. We look forward to the relationship with millions of fans at StubHub Center,” said Danielle Maged, Global Head of Partnerships and Business Development at StubHub. “At StubHub, we have an unyielding focus on the fan experience and with our partners at AEG, we intend for StubHub Center to be the embodiment of that focus as we work to create one of the most fan friendly stadiums in the world.”
StubHub’s partnership with a major sports facility represents the first-ever ticketing company to add its name to a public venue. The industry’s leading online ticket marketplace started in 2000, and through global partnerships with more than 100 sports properties and brands, including AEG, ESPN, Barclays Premier League Football teams, as well as numerous teams in MLB, NFL, NBA, NHL and now MLS, StubHub has quickly become one of the country’s leading entertainment brands. It has also partnered with primary ticketing companies AXS, Paciolan and Tickets.com. Its singular focus on fans and customer service has accelerated its adoption as a trusted brand about which consumers feel passionate.
LOS ANGELES (Reuters) – Phil Anschutz may come up with a shortlist Of potential buyers for the Anschutz Entertainment Group within weeks, as negotiations continue over the value of the billionaire's sports and real estate empire, people familiar with the bidding told Reuters on Friday. Colony Capital LLC, Guggenheim Partners LLC and Los Angeles biotech billionaire Patrick Soon-Shiong made second-round bids in February for AEG and remain in discussions about a potential deal, the people said. …
By The Huffington Post News Editors
LOS ANGELES — A judge says she is inclined to allow a lawsuit by Michael Jackson‘s mother against a concert promoter she claims is responsible for her son’s death to go to trial on a single claim.
Superior Court Judge Yvette Palazuelos issued a tentative ruling Monday stating that a jury should decide whether concert giant AEG negligently hired the doctor convicted of involuntary manslaughter for the singer’s 2009 death.
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