Hollywood tycoon Ari Emmanuel's Mari Group has acquired the theatre group ATG, which operates West End venues including the Savoy and the Ambassadors, in a deal valued at around £4.5bn. Emmanuel, who also runs an A-list media agency and leads the group that owns UFC, stated the acquisition highlights the "growing power of live experience and the passionate audiences it brings together."
The American businessman has previously spoken about the potential benefits of AI, suggesting it could lead to a three-day working week, providing people with more time and money for activities such as experiencing the arts. The sale marks a significant exit for Providence, the private equity firm that has owned ATG since 2013, having initially purchased the group for £350m.
Since its acquisition by Providence, ATG has expanded to 70 venues across the UK and received over £50m in investment to support its operations during the Covid-19 lockdowns. Beyond its well-known West End theatres, ATG also owns seven Broadway theatres and regional playhouses in cities including Bristol, Edinburgh, and Liverpool.
Emmanuel commented on Tuesday, "I started out in the theater. 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." Melanie Smith, ATG’s chief executive, added that Mari understood "our theatres, the people behind them and the relationships we have built with producers, artists and audiences."