Anschutz Retires From Boards

Philip Anschutz, a principal owner of Anschutz Entertainment Group, announced March 1st he will retire as a director of Regal Entertainment Group, Qwest Communications and Union Pacific Railroad so he can concentrate on his private businesses, including concert venues, sports teams, movies and newspapers.

He informed the boards of the three companies February 28th he would not seek re-election at annual meetings this year. Anschutz is expected to retain his stock ownership in all three companies.

A spokesman for AEG said the company would have no comment about Anschutz’s pending retirement from the boards. However, industry sources say they don’t expect his action to have any effect on AEG.

Anschutz currently controls a majority of stock in Regal Entertainment Group, the nation’s largest theatre chain; 4 percent to 5 percent of Union Pacific and about 17 percent of the stock in Qwest Communications, the Denver-based primary telephone service provider in 14 mostly Western states.

His Walden Media company scored a huge hit in 2005, co-producing “The Chronicles of Narnia: The Lion, The Witch, and The Wardrobe” with The Walt Disney Co.

The company is working on a sequel.

“We have appreciated the support and vision of Phil Anschutz and look forward to the continued involvement of The Anschutz Company on Regal’s board of directors,” Regal CEO Mike Campbell said in a statement.