Ari Emanuel's Mari Group is in exclusive talks to acquire ATG Entertainment for approximately £4.5bn ($6bn), according to Financial Times sources. The deal would give the Hollywood power broker control of roughly 70 theatres across the UK, US and Europe, including landmark venues like London's Lyceum Theatre and Broadway's Lyric Theatre. Mari Group outbid private equity firm Providence, which has owned ATG since 2013, and Blackstone, which holds a minority stake acquired in 2024.

ATG operates marquee properties staging productions such as The Lion King and Harry Potter and the Cursed Child. The company rebounded strongly from pandemic-era closures to post an operating profit of £160.9mn in the year ending March 2025. Emanuel launched Mari last year with $2bn in equity from investors including Apollo, Red Bird Capital and Qatar Investment Authority, building a portfolio spanning tennis opens, art fairs and collector car auctions.

The acquisition reflects Emanuel's strategy to capitalize on his belief that AI-driven productivity gains will free up leisure time for consumers. Already executive chair of WME Group and leader of TKO Group, which owns UFC and WWE, Emanuel aims to create a vertically integrated live entertainment empire spanning sports, arts and theatre that can capture this emerging consumer demand.