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Article: Denver Financier Buys Los Angeles' Staples Center.
- Article from:
- The Denver Post (Denver, CO)
- Article date:
- June 4, 2004
CopyrightCOPYRIGHT 2004 The Denver Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jason Blevins
Jun. 4--Denver financier Philip Anschutz on Wednesday paid an estimated $200 million to buy full ownership of Los Angeles' Staples Center, clearing the way for development of his long-planned entertainment complex next door.
Fox Entertainment Group Inc., a film development and production company largely owned by Rupert Murdoch's giant News Corp., said it sold its 40 percent stake in the 5-year-old arena. Before the transaction, Anschutz Entertainment Group owned 60 percent.
The Anschutz company now is poised to begin construction of a $1 billion project, called LA Live, on 28 acres surrounding the downtown sports complex. ...