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Thursday, September 15, 2011

Broadmoor is sold to Anschutz

Posted By on Thu, Sep 15, 2011 at 10:08 AM

New owner for historic five-star resort.

The company that owns the Broadmoor Hotel, the Oklahoma Publishing Company, is being sold to media magnate Philip Anschutz, the publishing company The Broadmoor said in a statement issued today.

Various sources value Anschutz's fortune at anywhere from $7 billion to $7.8 billion.

It's unclear what this means for Oklahoma Publishing's rumored plans to acquire the Gazette in Colorado Springs. The company, which owns The Oklahoman newspaper, sold the Colorado Springs Sun to the Gazette in the late 1980s.

One thing is more certain: The change in ownership of The Broadmoor doesn't bring new political views to town. The Oklahoma Publishing Company is conservative, and Anschutz is way to the right as well, having supported George W. Bush and various conservative groups.

Here's the rundown from Wikipedia:

Anschutz has funded a number of ultra-conservative and/or Christian organizations including the following:

* Institute for American Values, which campaigns against same-sex marriage and against single parenting;
* Colorado for Family Values (CFV), the organization behind Colorado's notorious anti-gay constitutional amendment, Amendment 2, approved by the voters in 1992 and later overturned by the US Supreme Court;
* Enough is Enough, whose President and CEO is Donna Rice Hughes (the major figure in the sex scandal that ended the 1987 campaign of Gary Hart, in the Democratic presidential primary), and which claims that it is "Lighting the way to protect children and families from the dangers of illegal Internet pornography and sexual predators";
* Morality in the Media, established in 1962 "to combat obscenity and uphold decency standards in the media."

The sale gives The Broadmoor only its third owner since Spencer and Julie Penrose opened it in 1918, according to the publishing company's news release The Broadmoor's statement.

Here's the full statement:

In a statement released today via The Oklahoman newspaper and, Chairman and CEO of The Oklahoma Publishing Company (OPUBCO) Christy Everest announced the sale of OPUBCO, including the historic BROADMOOR Hotel in Colorado Springs, Colorado, to The Anschutz Corporation, a Denver based company owned by businessman Philip Anschutz.

“There are amazing similarities between the interests and values of The Anschutz Corporation and those of OPUBCO,” said Mrs. Everest. “Mr. Anschutz’s stewardship of OPUBCO properties will carry the company’s 108 year history well into the future. His interests align with ours right down to his love of the west.

Under the guidance of Edward L. Gaylord, The Oklahoma Publishing Company purchased the controlling interest in The BROADMOOR from El Pomar Foundation in 1988 and later acquired 100% ownership. When Mr. Gaylord passed away in 2002, his daughter, Mrs. Everest, became the third member of the Gaylord family to lead OPUBCO.

Management of The BROADMOOR remains in the hands of President and CEO Steve Bartolin and no changes are planned in management and staff.

Noting the storied history and importance of The BROADMOOR, Philip Anschutz said, “I am extremely pleased with my new affiliation with The BROADMOOR. I look forward to working with Steve Bartolin and his team in carrying on The BROADMOOR’s legacy of excellence and commitment to the Colorado Springs community.”

“I have come to know Mr. Anschutz and I respect and like him a lot. He is committed to long term ownership and keeping The BROADMOOR an independent hotel that will not be flagged or affiliated with a chain,” Bartolin says. “I have also been so impressed with his passion for The BROADMOOR and his knowledge of our history, which gives me great hope for its future. This is a very positive event.”

“I cannot overstate what a wonderful owner OPUBCO has been,” Bartolin continued. “Christy Everest and her family have been remarkable stewards. The sale of OPUBCO is positive for the OPUBCO shareholders and it is positive for The BROADMOOR, as well. They were very careful to hand over their businesses to someone with the resources and the same passion, caring and commitment they have had.”

The BROADMOOR opened its doors in 1918, founded by Spencer and Julie Penrose. Mr. Anschutz becomes only the third owner of the historic property that is the longest consecutive winner of the Forbes Five Star and AAA Five Diamond awards for excellence.

Closing of the sale of OPUBCO to The Anschutz Corporation is contingent upon receipt of certain regulatory approvals. Details of the transaction remain private.

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