Ari Emanuel’s Mari to Acquire ATG Entertainment

Ari Emanuel’s Mari has entered into a deal to acquire Broadway and West End theater giant ATG Entertainment from Providence Equity Partners.

ATG operates a portfolio of 70 venues across the United Kingdom, the United States, Germany, and Spain, including seven Broadway theaters and ten in London’s West End, as well as an extensive network of regional theaters.

Its venues host over 16,000 performances and welcome over 18 million theatergoers each year, including the Broadway productions of “The Lion King,” “Wicked” and “Harry Potter and the Cursed Child.” It also produces and co-produces work for the West End and Broadway.

The deal, which is subject to regulatory approval and customary closing conditions, would see the two companies continue to operate separately.

Following the deal’s completion, Mari would act as a long-term custodian of ATG’s regional, Broadway and West End theaters, investing in their preservation and modernization alongside an improved audience experience and support for new productions. Mari would aim to build on the role regional theaters play in their communities, creating new opportunities for local artists and broadening access to live theater.

Financial terms were not disclosed, though the Financial Times previously reported that the deal values ATG at £4.5 billion ($6 billion).

The deal expands Mari’s global portfolio of events and experiences across sports, art, entertainment and lifestyle, including Frieze, Barrett-Jackson, the Miami Open, the Mutua Madrid Open, Hyde Park Winter Wonderland and the Hampton Court Palace and Blenheim Palace Festivals.

“I’ve spent my whole career in entertainment, and I started out in theater. I’ve seen the industry reinvent itself many times, but live has only grown more powerful. Nothing connects great talent with audiences more directly,” Mari founder and principal investor Ari Emanuel said in a statement. “ATG has built one of the world’s great theater businesses around that experience. This is a long-term bet on where live goes next.”

ATG will continue under its existing brand and leadership and retain its commitment to creative independence.

“MARI understands live entertainment and what matters most to ATG: our theaters, 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,” ATG Entertainment CEO Melanie Smith added. “We look forward to this new era and thank Providence for their unwavering support over the past
thirteen years.”

More to come…