CHANGES AT AEG

So Phil Anschutz has taken AEG off the shopping block and at the same time, Tim Leiweke is leaving the company.  What????  Didn’t Tim build that company with Phil?

I don’t know, maybe Tim is going into politics.  Regardless, this is big news.  Perhaps AEG tries to close the football deal and then put the company back on the market.  It would be harder to sell the company once the NFL franchise is in place since any new owner would need the approval of the NFL and team owners.  Perhaps Phil doesn’t want a football team.  I’m just blown-away that Tim Leiweke is no longer with AEG.

Below is our friend Bob Lefsetz ‘s thoughts on the matter.  BTW, if you are at Austin Spring Break…I mean SXSW, have a great time.  Wish I was with you…kind of.

__________________________________________________

There’s only one owner here.

That’s what Rupert Murdoch told Barry Diller after Barry did the impossible, create a fourth television network. Barry believed he earned ownership. But Rupert felt otherwise.

You think you want a job, you think you want to sell out, but if you’re not in charge of your life someone else is.

I really don’t care if Phil Anschutz sells AEG or not. Hell, from the beginning it appeared he was asking too much, begging the question of whether he was seeking valuation or…

But one thing I’m categorically against is football in downtown L.A.

As my football fanatic friend Jeff says, we’ve now got it good, without a local team we get the best games on television. As opposed to being subjected to our local outfit on TV every Sunday, assuming they sell out and the game is not blacked-out.

Then again, true fans have the DirectTV package wherein they get every game.

As for going to the game… It’s better on television. You can feel it at the stadium, but you just can’t see it. Which is why attendance is faltering.

But this is kind of like the movie credit game. And the automobile factory game. Cities and states fall over themselves to give incentives to draw these enterprises, but the payback is minimal, the only people benefiting are the teams/companies themselves.

But ain’t that America, where we rob from our brethren, argue amongst the hoi polloi, and the rich walk straight to the bank.

Tim Leiweke will say he too did the impossible. Revitalized downtown L.A., brought a hockey championship to the city. And I don’t want to minimize his efforts, but Phil wasn’t always on board with them, and Tim never realized he didn’t own AEG. He acted like he did, but he didn’t.

As for Farmers Field, you can’t drive in L.A. to begin with. You’re gonna make it worse?

Leiweke strong-armed the government.

But no one reads the newspaper and if they watch TV news, it’s for the robberies and pet rescues.

It’s good we’ve got AEG as a concert promoter. They counterbalance Live Nation.

And Staples Center is far better than the decrepit Forum, at least for now.

Then again, Staples is evidence of our country today. It’s gigantic. There are three levels of skyboxes. The upper deck is so high and so far removed that almost no one can sell it out. Staples makes money, but it’s a lousy place for events.

Whereas the Forum was intimate. After Dolan gets through revitalizing it, will it become the concert destination?

We’ll see.

But know that billionaires rule the earth, and we’re just pawns in their game.

Visit the archive: http://lefsetz.com/wordpress/

http://www.twitter.com/lefsetz

If you would like to subscribe to the LefsetzLetter,

http://www.lefsetz.com/lists/?p=subscribe&id=1

 

Advertisements

Tags: , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: