American media tycoon Ari Emanuel has bought ATG Entertainment in a £4.5 billion deal through his firm Mari Group. The acquisition hands the Hollywood power broker control over major theatre venues in London's West End and on Broadway.
ATG Entertainment has been owned by private equity group Providence since 2013. The company operates ten venues in London's West End, including the Lyceum, home to The Lion King, and the nearby Savoy Theatre, which is staging Paddington The Musical.
The operator also runs regional theatres such as the Liverpool Empire, Edinburgh Playhouse and Manchester Opera House. In addition, ATG has seven venues on Broadway in New York, including the Lyric, which is staging Harry Potter and the Cursed Child.
Mari Group expansion
Emanuel founded Mari Group last year. The firm runs Hyde Park Winter Wonderland as well as the Hampton Court Palace and Blenheim Palace Festivals, alongside major tennis tournaments including the Madrid and Miami Opens.
Mari Group is backed by Apollo Global Management and RedBird Capital Partners, and bought Secret Cinema parent company TodayTix last year. Emanuel also serves as executive chairman of talent agency WME Group, acting as a super agent to A-list stars including Adele, Oprah Winfrey and Martin Scorsese.
In a statement, Mari Group said the acquisition of ATG reflects its conviction in the growing power of live experience and the passionate audiences it brings together.
Statements on the deal
Emanuel said: "I’ve spent my whole career in entertainment, and I started out in theatre. I’ve seen the industry reinvent itself many times, but live has only grown more powerful. Nothing connects great talent with audiences more directly. ATG has built one of the world’s great theatre businesses around that experience. This is a long-term bet on where live goes next."
Melanie Smith, global chief executive of ATG, said: "Mari understands live entertainment and what matters most to ATG: our theatres, the people behind them and the relationships we have built with producers, artists and audiences. That makes Mari the right home for our next chapter. We look forward to this new era and thank Providence for their unwavering support over the past thirteen years."
