Beyond being known as a leader in the natural resources industry, Anschutz Company holds an eclectic stable of global business involved in energy exploration, renewable energy, entertainment, media, telecom and sports. Through its flagship Anschutz Entertainment Group (AEG), Anschutz promotes concerts and other events and owns 100 sports and entertainment centers such as Staples Center and the StubHub Center in California. AEG also owns soccer, and other pro teams in the US and Europe (including the NHL's Los Angeles Kings and a stake in the Los Angeles Lakers).
Anschutz holds around a dozen different companies from a range of industries. One of the company's most important holdings is its Denver-based Anschutz Exploration Corporation. The independent oil and gas exploration firm is known by energy industry leaders and regulators as leader in all aspects of exploration and production, including safety, environmental stewardship and sound operating practices.
Anschutz also owns Xanterra Parks & Resorts, the US' largest operator of lodging and restaurants within national parks, state parks, and resorts (including locations at the Grand Canyon, Yellowstone, and Mount Rushmore).
Other Anschutz holdings include wind turbine developer Power Company of Wyoming LLC; electricity transmission company TransWest Express LLC; three ranch and farm operations; movie chain Regal Entertainment Group, the family-oriented Anschutz Film Group; investment firm Anschutz Investment Co.; and the print and web publishing group Clarity Digital, which owns the Washington Examiner daily newspaper and The Weekly Standard political magazine.
One of Anschutz Company's biggest ongoing ventures is the development of two major wind energy projects in south central Wyoming. An Anschutz Exploration Corporation affiliate, Power Company of Wyoming, is planning a wind farm with 1,000 turbines, which will produce 2,000 to 3,000 megawatts of power. Its TransWest Express affiliate is working on an 800-mile, 600 kilovolt power transmission project that will transport wind power from Wyoming to the desert southwest in order to serve cities such as Las Vegas.
Over the past few years, Anschutz has dropped unproductive projects to reorient its focus toward more productive ones. In early 2013, the company ceased operations entirely on its oil & gas-related Blackfeet Reservation project after nearly a decade of research, regulatory effort, negotiation, and significant investment spending in technology development and capital. In late 2012, Anchutz Company put its AEG operations up for sale, hoping to receive about $10 billion for the sport and entertainment giant. However, in mid-2013 it called off the sale, stating its bids only got up to $8 billion.
Philip Anschutz, who founded the firm in 1958, made his first fortune in the oil and gas industry. The multi-billionaire also founded Qwest Communications.
▲ Show Less▼ Show Full Description