Edinburgh Playhouse owners set to be bought over by US firm in multi-billion pound deal
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The owner of Edinburgh Playhouse is set to be bought by an American media tycoon
Edinburgh Playhouse owner ATG Entertainment is set to be bought by American media tycoon Ari Emanuel and his events firm Mari.
A definitive agreement is in place for the theatre company with the deal, which is worth a reported £4.5 billion according to the Financial Times, placing ATG’s 70 theatres across the globe under the control of Mari.
Mr Emanuel, who is the founder and principal investor of Mari, is well known in the live entertainment industry through the UFC and WWE under TKO Group Holdings, where he serves as the chief executive officer and executive chairman. He has had a long-standing friendship with US president Donald Trump.
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.”
Melanie Smith, global chief executive of ATG Entertainment, 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.”
Founded in 1992 by Howard Panter and Rosemary Squire, ATG has been owned and operated by Providence Equity Partners since 2013. The group has operated the Edinburgh Playhouse since 2009, when it officially acquired the venue as part of a £90 million buyout of Live Nation’s UK theatre portfolio.
ATG also runs theatres in London’s West End including the Lyceum, home to The Lion King, and the Savoy Theatre, which is staging Paddington The Musical.
It also runs theatres, such as Liverpool Empire and Manchester Opera House.
It is understood that the theatres would continue under the ATG Entertainment brand and leadership.