Mari Group, a live events company founded by TKO CEO Ari Emanuel, is in advanced discussions to acquire British West End theater operator ATG Entertainment for £4.5 billion — roughly $5.94 billion — according to a report published Tuesday by the Financial Times. The outlet cited four individuals with knowledge of the situation.
According to the Financial Times, U.S.-based investment firm Providence, which currently owns ATG, has entered into exclusive negotiations with Emanuel’s Mari Group. Sources told the publication that both sides are hopeful a deal can be finalized within the coming month.
However, the report cautioned that the timeline could shift and that no agreement has been confirmed at this point.
Emanuel is also the chief executive of TKO, the parent company of the Ultimate Fighting Championship, a major mixed martial arts promotion organization.
Reuters had previously reported last month that ATG Entertainment was in the early stages of being considered for a potential sale by its private equity owner Providence, also based on information from four people familiar with the matter.
Should the sale go through, it would represent a significant moment for the live theater industry. ATG Entertainment, formerly known as Ambassador Theatre Group, was among the sectors hit hard by pandemic-era lockdowns and closures.
Providence and ATG did not respond to requests for comment from Reuters. A representative for Mari declined to offer any statement.
