Tim Conway Jr. talks about the sale with Fox Sports LA's Matt "Money" Smith. 

LOS ANGELES (CNS) - The company that owns Staples Center and is the  driving force behind an effort to build a professional football stadium in  downtown Los Angeles announced today it is being put up for sale.


Anschutz Entertainment Group, a subsidiary of the Anschutz Co. owned by Denver billionaire Philip Anschutz, also has a stake in the Los Angeles Lakers  and the Los Angeles Galaxy. It also owns the L.A. Live entertainment complex in  downtown Los Angeles and the O2 arena in London.

``Given the success of the management team and employees in establishing  AEG as one of the premier real estate development, live sports and  entertainment platforms in the world, as well as the value AEG has created with the strategic assets that comprise its platform, this is an appropriate time to transition AEG to a new qualified owner,'' said Cannon Y. Harvey, president of  the Anschutz Co.

``This process represents a unique opportunity to maximize value for all  concerned and will allow us to assure that, like the Anschutz Co., the new  owner will have the financial resources, commitment and vision to support AEG's  management team as it continues to grow the business of AEG and the power of  its brands,'' he said.

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