The 70-year-old was reportedly arrested at his home in Bayswater, west London, in relation to claims the offences were committed against boys under the age of 16.
An investigation called Operation Ravine was launched in late 2014 to look into child sex crimes linked to the Walton Hop Disco in Walton-on-Thames.
Surrey Police also arrested two other men, aged 77 and 86, from Walton-on-Thames on suspicion of the same offence.
Officers were pictured in the Sun newspaper carrying evidence bags from King’s house. The homes of the other suspects have also been searched and the force said it is pursuing a “number of lines of inquiry”.
Senior investigating officer Detective Chief Inspector Karen Mizzi said: “This is a complex investigation into numerous allegations of sexual abuse and assault dating back over several decades.
“Our investigation focuses on the Walton Hop Disco, a popular event for youngsters between the 1970s and 1980s, and we are following a number of lines of inquiry. However, if anyone has information that may help the investigation I would ask them to contact us.”
Operation Ravine was established following a review by Merseyside Police into the Surrey Police investigation entitled Operation Arundel which launched in 2000.