Ari Emanuel’s Mari Group is reportedly in advanced talks to acquire ATG Entertainment, the West End and Broadway theatre group, for about £4.5 billion, or $6 billion. According to the Financial Times, Providence Equity Partners is in exclusive talks to sell ATG to Mari, with hopes that a deal could be completed within the next month. However, the timing could still shift and a transaction has not been finalized.
ATG Entertainment owns about 70 venues across the U.K., U.S., and Europe. Its portfolio includes major West End venues such as the Lyceum Theatre, which stages The Lion King, and the Savoy Theatre, along with Broadway’s Lyric Theatre, which hosts Harry Potter and the Cursed Child. The company also owns venues across the U.K., including Liverpool’s Empire Theatre.
Providence has owned ATG since acquiring the company in 2013 in a deal valued at about £350 million. Blackstone acquired a minority stake in the business in 2024.
ATG was founded in 1992 by Sir Howard Panter and Dame Rosemary Squire as the Ambassador Theatre Group. The company has expanded through a series of acquisitions and has rebounded from the disruption caused by theatre closures and restrictions during the pandemic. For the year ended March 2025, ATG recorded operating profit of £160.9 million.
Mari Group was launched by Emanuel last year with $2 billion in equity. Its investors include Apollo, RedBird Capital, and the Qatar Investment Authority. Mari has already invested in a range of live entertainment, culture, and sports assets, including the Frieze art fair, London’s Winter Wonderland, and sports events such as the Miami Open tennis tournament.
Emanuel is also executive chair of talent agency WME Group and leads TKO Group, which owns UFC, WWE, and IMG. The reported ATG talks would expand his push into live events and entertainment venues at a time when demand for in-person experiences continues to attract major investor interest.
The reported talks also follow Mari’s acquisition of TodayTix, a digital ticketing platform that ATG had previously explored buying. Adding ATG would give Mari a major global theatre platform spanning marquee venues in London, New York, and other key entertainment markets.
