Ari Emanuel's Mari Buys ATG Entertainment for $6B

Ari Emanuel's company Mari has agreed to acquire ATG Entertainment, a major owner of Broadway and West End theaters, from Providence Equity Partners in a deal valued at $6 billion. The acquisition is subject to regulatory approval and will see ATG continue to operate under its existing brand and leadership.

ATG Entertainment operates a significant number of theaters, including 10 in London's West End and 7 on Broadway. The company has a total of 70 venues across the UK, US, Germany, and Spain, hosting landmark productions such as 'Wicked', 'Harry Potter and the Cursed Child', and 'The Lion King'.

The deal marks a major expansion of Mari's portfolio of events and experiences, which already includes tennis events, art fairs, and a car auction company. Ari Emanuel, the founder and principal investor of Mari, has a background in entertainment, having spent his career in the industry and currently serving as CEO of TKO, home to the WWE and UFC.

Providence Equity Partners acquired a majority stake in ATG for about $500 million in 2013. The current acquisition is a significant increase in value, reflecting the growth and potential of the live entertainment industry. ATG's leadership, including global CEO Melanie Smith, has expressed support for the deal, stating that Mari understands live entertainment and will be a good home for the company's next chapter.

## Why it matters The acquisition of ATG Entertainment by Mari is a significant development in the live entertainment industry, particularly in the theater space. The deal reflects the growing importance of live events and experiences, and the potential for companies like Mari to expand their portfolios and reach new audiences. With ATG's commitment to creative independence and its existing brand and leadership remaining in place, the acquisition is likely to have a positive impact on the industry and the company's operations.

The deal is also a testament to the value of live entertainment, with Ari Emanuel stating that 'live has only grown more powerful' and that 'nothing connects great talent with audiences more directly'. As the live entertainment industry continues to evolve, the acquisition of ATG Entertainment by Mari is likely to be a significant factor in shaping its future.