The development group is known as LA Arena Land Co. and includes Anschutz Entertainment Group, headed by Denver billionaire Philip Anschutz, and media mogul Rupert Murdoch's Fox Entertainment Group. Anschutz helped to build Downtown's wildly successful Staples Center sports and entertainment facility, which has been credited with helping to turn the CBD around since opening about 18 months ago. Murdoch, owner of several TV networks and newspapers around the world, also owns the Los Angeles Dodgers.

The group's $1-billion-plus project would surround Staples Center. To be called the LA Sports and Entertainment District, it would be anchored by a 45-story hotel at Olympic Boulevard and Georgia St., a 7,000-sf theater for award shows and other live performances, and a large but undetermined amount of retail space.

Plans also call for a 250,000-sf expansion of the nearby LA Convention Center, plus two apartment towers with a combined 800 units and the eventual addition of another hotel.

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