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Article: 2 ARENAS TO SHARE OWNERSHIP; STAPLES CENTER GROUP OKS FORUM PURCHASE.(BUSINESS)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- June 25, 1999
CopyrightCOPYRIGHT 1999 Daily News. 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: Gregory J. Wilcox Staff Writer
In a deal that gives one company control over Los Angeles' biggest entertainment venues, the owners of the new downtown Staples Center agreed to buy the Forum in Inglewood, officials said Thursday.
The sale of the Forum - for three decades the home of the NBA's Lakers and NHL's Kings - to the L.A. Arena Co., a partnership that includes Staples Center majority owner Phillip Anschutz and the Fox Group, is expected to close by July 31. At that time the new owners will take over management and operation of the Forum.
Terms were not disclosed. Sources said the purchase price was less than $20 million.
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