Jewish Hollywood mogul Ari Emanuel buys West End theatre giant in £4.5bn deal
A company run by the brother of Barack Obama’s former chief of staff is taking control of 10 major London theatres
Jewish-American media mogul Ari Emanuel is buying one of Britain’s biggest theatre groups in a deal reportedly worth around £4.5 billion.
His live entertainment company Mari has agreed to buy ATG Entertainment, which runs 10 West End theatres and dozens more across Britain and the US.
Its London venues include the Lyceum Theatre, home to The Lion King, and the Savoy Theatre, where Paddington The Musical is currently playing.
The price has not been officially announced, but the Financial Times previously reported that ATG could be valued at around £4.5bn.
Emanuel, 65, grew up in a Jewish family in Illinois and is the youngest of three prominent brothers.
His brother Rahm Emanuel served as Barack Obama’s White House chief of staff and later became mayor of Chicago and US ambassador to Japan. Their older brother, Ezekiel “Zeke” Emanuel, is a leading American doctor and academic.
Ari Emanuel spent decades working at the top of the US entertainment industry and co-founded Hollywood talent agency Endeavour.
Speaking about the deal, he 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.”
ATG runs around 70 theatres around the world. Its UK venues outside London include the Liverpool Empire, Edinburgh Playhouse and Manchester Opera House.
The company has been owned by private equity firm Providence since 2013. It will keep its existing name and leadership after the sale.
Mari already runs several major events in Britain, including Hyde Park Winter Wonderland, The Big Feastival and Hampton Court Palace Festival. It also bought TodayTix Group, the owner of Secret Cinema, last year.
ATG global chief executive Melanie Smith 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.”