Max SteventonWME group chairman Ari Emanuel will acquire live entertainment group ATG Entertainment in a deal reportedly worth £4.5bn.
Emanuel is an American entertainment executive who co-founded global entertainment and sports company Endeavor and is now executive chairman of talent agency WME Group, as well as CEO and executive chairman of TKO Group, the parent company of wrestling brands UFC and WWE.
The deal, first reported by the Financial Times, would see ATG acquired by Emanuel’s Mari Group, which was established last year with $2bn of financial backing from investors including Qatar Investment Authority, RedBird Capital and Apollo.
UK-based ATG Entertainment is a global live entertainment company that operates theatres and venues, produces shows and sells tickets across the UK, US and Australia. It owns and operates venues including the Savoy Theatre (pictured), Lyric Theatre and Apollo Theatre in London, and is one of the world’s largest theatre operators.
ATG was acquired by private equity firm Providence in 2013 for £350m, with the company subsequently expanding its portfolio to 70 venues across the UK. ATG also launched its US live events division in April known as ATG Live.
Emmanuel said, “I started out in the theatre. I’ve seen the industry reinvent itself many times, but live has only grown more powerful. This is a long-term bet on where live goes next.”