Telephone: Fax: The Anschutz Company and its affiliates, including the Anschutz Corporation and Anschutz Investment Fireplace Company Marietta Ga, are the investment vehicles for the diversified interests of Philip F.
Originally funded by the oil and gas holdings of his father, the publicity-shy Anschutz quietly became a billionaire in the early s as a result of his oil and gas exploration ventures.
Consistently ranked as one of the richest persons in Denver, Anschutz became better known nationally in the late s and early s for acquiring railroad Northern Gulf Trading Company, including the small Rio Grande Railroad and a railroad giant, Southern Pacific Rail Corporation. In the early s Anschutz moved aggressively into entertainment and media.
AEG formerly Anschutz Entertainment Group is the nation's second largest producer of concerts and other events; owns stakes in the Los Angeles Kings hockey franchise, the Los Angeles Lakers basketball team, and the state-of-the-art Staples Center; and owns five Major League Soccer teams.
Anschutz also controls Regal Entertainment Company Not Paying Wages, the largest movie theater chain in the United States.
His evangelical Christian beliefs have also led him to form Anschutz Film Group, which through two film production companies, Cannon Company Media and Botany Bay Productions, aims to produce "family-friendly" films.
In addition to being the Kid Love Production Company shareholder in both Union Pacific 6 percent stake and Qwest He also has extensive real estate holdings. A marathon runner in his younger years, Anschutz has built this fortune through tenacity, savvy dealmaking, strategic timing, and a knack for spotting trends.
Philip F. Anschutz was born in Russell, Kansas, in some sources say it was Grand Bend. His father, Fred Anschutz, was a renowned oilfield wildcatter who made and lost several fortunes. At that time, Philip Anschutz was in college at the University of Kansas, where he earned a bachelor's degree in finance, with honors, in The following year, the younger Anschutz was days away from starting classes at Keeping Company Records After Liquidation prestigious University of Virginia law school, when his father became ill; he returned home to take over the family businesses, including Anschutz Corporation and the oil wildcatting company, Circle A Drilling.
He also relocated to Denver that same year. Success did not come immediately for the young wildcatter. It was not until that he made his first major strike—and his first million—while contract drilling for Chevron near Gillette, Wyoming. Over the next several years, Anschutz's fortunes waxed and waned, and it was during this period that he began to expand outside of the oil industry while continuing to own oilfields in Montana, Texas, Colorado, and Wyoming.
Anschutz purchased cattle ranches, uranium and coal mines, and wheat and vegetable farms, and launched a New York-based commodity trading company specializing in oil and metals. He was nearly ruined by a disastrous coal mining investment before managing to sell the money-losing mines to an electric utility. Among the real estate Anschutz purchased in the early s was a property on the Wyoming-Utah border, known as Anschutz Ranch East. In Amoco Corporation discovered a huge reservoir of oil and natural gas adjacent to this ranch—what turned out to be one of the largest discoveries since Alaska's Prudhoe Bay.
Amoco attempted to buy Anschutz's mineral rights but he refused. Instead, he expanded his holdings of what became known as the Overthrust Belt, acquiring leases on ten million acres. Were it not for this shrewd maneuver, which made him a billionaire, ranking 13th on Forbes magazine's list of the richest Americans, Anschutz could have been one of the crash's casualties.
Anschutz parlayed his oil and gas wealth into the stock market, downtown real estate primarily in Denverand, ultimately, the railroad industry. Anschutz's first major venture into real estate began in when he secured a 30 percent interest in all projects developed by the Oxford-AnsCo Development Co.
Late inthe partnership was dissolved and the holdings divided between Anschutz and Oxford, with Anschutz keeping the Anaconda Tower where the company's offices were still located in the early 21st centuryDenver's Fairmont Hotel, and a half-block of undeveloped land in Denver.
Soon after becoming president inRonald Reagan deregulated the U. Anschutz spotted a huge opportunity here, anticipating that the deregulation would inevitably lead to consolidation and the possibility of profiting from dealmaking. Anschutz Corp. The Rio Grande's small size and its position as a bridge carrier providing connections between other rail lines led Anschutz to pursue the acquisition of the railroad giant Southern Pacific SP in an attempt to save 1971 Coffee Company much smaller Rio Grande.
Anschutz had to overcome a major hurdle to achieve his objective of solidifying his railroad holdings. Santa Fe Industries Inc. The proposed merger elicited immediate opposition from government officials and Santa Fe's competition, and with the added impetus of pressure from Anschutz, whom Forbes called "politically influential," the Interstate Commerce Commission ICC in blocked the Santa Fe—SP merger as anticompetitive.
Robert Krebs, the chairman of Santa Fe Industries, was forced to sell one of his lines and chose SP, which he felt was the weaker of the two. Anschutz closed the deal for Southern Pacific in the fall of As William P.
Amid speculation that he would be better off breaking up SP and selling it piecemeal Krebs of the Santa Fe still coveted much of the SP line and approached Anschutz about a deal several times without successAnschutz told Forbes: "I said in my original ICC filing that we would turn this railroad around; I'm in it for the long haul.
Anschutz also began to improve the quality of its service through heavy expenditures to maintain its track and hiring a quality expert, Kent Sterett, from its competitor Union Pacific.
As trade between the United States and Mexico increased in the early s, SP seemed best positioned to profit from it with its six Mexican gateways in California, Texas, and Arizona. In the summer ofAnschutz turned to Ztt Company Full Form railroad company veteran, Edward Moyers, to assist in turning SP around.
Anschutz hired Moyers as chief executive, and Moyers immediately focused on Southern Pacific's operating ratio, which stood at The hiring enabled Anschutz to embark on a new and surprising strategy for a man who preferred to keep his dealings private: taking SP public.
In another effort to reduce the debt load, Anschutz Company Denver million shares were offered in August Still, that the offering was successful at all was attributed by many to the hiring of Moyers.
Following these sales, Anschutz owned 41 percent of the shares outstanding. Meanwhile, Moyers started a multipronged strategy for revitalizing Southern Pacific.
First, he planned to cut costs by reducing the employee ranks through a buyout program and a reorganization. Second, Moyers focused on service to SP's customers, putting pressure on his subordinates to improve the operations. This initiative saved a lucrative Georgia-Pacific account by increasing on-time Georgia-Pacific deliveries from zero to 80 percent in three months.
Moyers also sought to bolster Southern Pacific's equipment through the purchase of new locomotives, the rebuilding of existing locomotives, and better maintenance of both trains and track. Although SP was still in weak financial condition, Moyers had managed to make a number of improvements, and in February he once again retired.
Anschutz was also attempting to leverage the real estate holdings of Southern Pacific by developing some of the land rather than selling it to other developers. Starting aroundAnschutz was involved in the planning of a downtown development in his base city of Denver on land along the South Platte River that he had purchased from SP. But the plan fell through when Anschutz insisted that Ascent sell him 50 percent of the Avalanche and Ascent refused.
By railroad industry consolidation was reaching a crescendo, with the number of major railroads having been reduced from 40 in to ten, and with the completion of the merger of Burlington Northern and the Sante Fe. There were now just three major rail companies in the western United States: Southern Pacific, Union Pacific, and the newly named Burlington Northern Sante Fe, which was about the size of the other two combined.
Not surprisingly, then, the Southern Pacific and Union Pacific entered into what turned out to be lengthy discussions about a merger. Completion of the merger was by no means certain. Meanwhile, the Fifty West Brewing Company. In July —despite opposition from the U.
Anschutz continued to hold his 5 percent stake in Union Pacific into the 21st century. Emerging seemingly out of nowhere to replace Southern Pacific as Anschutz's key venture was Qwest, a company whose lineage came straight out of Southern Pacific. Beginning inthe railroad operated a sleepy subsidiary called SP Telecommunications Company, which installed fiber-optic cable along its tracks for the use Ross Dance Company the railroad and for 3m Company Tilton Nh companies.
The company began offering its own long-distance service to business customers in the Southwest in Two years later, Anschutz acquired Qwest Communications Inc. He also began securing the rights to lay cable along the tracks of other railroads, eventually gaining agreements to lay cable along 40, miles of railway. With the Internet beginning its explosive late s growth, telecommunications companies were clamoring for additional capacity.
He had now made billion-dollar fortunes in three separate industries: oil, railroads, and telecommunications. Over the next few years, Qwest grew rapidly through acquisitions. Meanwhile, Anschutz began his move into the sports world in when he teamed with Los Angeles developer Edward Roski, Jr.
In Anschutz and Roski inked a deal to build a state-of-the-art sports arena in Los Angeles that would become the home ice for the Kings. The following year the partners purchased a 25 percent stake in the Los Angeles Lakers, one of the premier teams of the National Basketball Association. Anschutz also owned 30 acres of land around the arena that he planned to develop into a vast entertainment complex with hotels, restaurants, theaters, and offices. Filling Anschutz Company Denver Staples Center on off nights became the inspiration for Anschutz's entrance into concert promotion.
Anschutz Entertainment Group eventually became the second largest promoter of concerts and other events in the United States. Anschutz attempted to build Forest Oil into a major independent oil company through mergers and acquisitions. In the company agreed to acquire a Miami, Florida-based exploration and production firm called Forcenergy Inc.
Not only was Qwest accused of various accounting improprieties, the company and its competitors overbuilt their fiber-optic networks, essentially squandering billions of dollars creating unneeded capacity. This led Fortune magazine in September to name him the nation's "greediest executive," prompting his company to release a rare public statement calling the article "inaccurate and unfair.
As nonexecutive chairman until Junewhen he resigned Young Talent Company position while staying on the board, Anschutz claimed that he was not involved in the day-to-day operations, a contention that Nacchio disputed.
The closest that Anschutz came to prosecution was a case involving IPO "spinning," that is, receiving IPO shares from a Wall Street firm in exchange for directing investment-banking business to the firm. In the meantime, Anschutz used part of the proceeds from his sales of Qwest stock to New York And Company Bridgewater Mall major moves into the entertainment industry, specifically film production and movie theaters.
In the case of the former, Anschutz was apparently at least partly motivated to act based on his conservative Christian beliefs. This seemed to be a departure for the billionaire dealmaker, whose previous forays had been strictly business though his Anschutz Foundation was well-known for funding right-wing, conservative Christian causes. Anschutz's goal in setting up Anschutz Film Group was to create Culver Building Company films.
In a February speech, he played down the money angle, saying, "My friends think I'm a candidate for a lobotomy, and my competitors think I'm naive or stupid or both. But you know what? I don't care. If we can make some movies that have a positive effect on people's lives and on our culture, that's enough for me. Anschutz established Walden Media the following year in partnership with veteran film producer Cary Granat, formerly of Miramax, to make G and PG movies that could tie into schools' reading lists.
None of Crusader's movies made much money, however, and it was shut down in The film group's biggest bet, however, came when Walden teamed with Walt Disney Company to develop C. Lewis's Chronicles of Narniaa series of religious allegorical fantasies set in the mythical kingdom of Narnia, into a series of movies—hoping for a Lord of the Rings type of blockbuster payoff.
In the mid- to late s the major U. Four major exhibition companies filed for bankruptcy in alone.
Anschutz Exploration Corporation (AEC) is a private, independent oil and gas company with current projects located in Wyoming, Colorado and Utah. AEC and its predecessors have participated in significant discoveries and development of oil and gas resources worldwide.…
Philip Frederick Anschutz (/ ˈ æ n ʃ uː t s / AN-shoots; born December 28, 1939) is an American billionaire businessman who owns or controls many companies in a variety of businesses, including energy, railroads, real estate, sports, newspapers, movies, theaters, arenas and music. His name appears on medical and educational institutions to which he has donated millions.Alma mater: University of Kansas…
Company profile page for Anschutz Corp/ Kansas including stock price, company news, press releases, executives, board members, and contact information ... 555 17th Street Suite 2400 Denver, CO ...Founded: 17 Dec, 1959…
Anschutz Corporation is a holding and investment company based in Denver. Philip Anschutz, as chairman and chief executive officer, has created a diverse portfolio of investments over a …Location: Denver, 80202, CO…
Find company research, competitor information, contact details & financial data for The Anschutz Corporation of Denver, CO. Get the latest business insights from Dun & Bradstreet.…
The Anschutz Corporation is an American private holding company headquartered in Denver, Colorado, United States. It was started in 1958 by Fred Anschutz, the father of Philip Anschutz, who ...…
Over five decades, Philip Anschutz has built fortunes in oil, railroads, telecom, real estate and entertainment. He owns the NHL's Kings and a third of the Lakers, plus the arena in which they ...…
Anschutz Investment Company operates as the venture capital investment arm of the Anschutz Group of Companies. The Company invests in media and entertainment, sports, telecommunications, energy ...Founded: 02 Jul, 1997…