Hollywood mogul Ari Emanuel is betting big on live theater. His media conglomerate, Mari Group, announced on Tuesday that it will acquire Britain’s ATG Entertainment from private‑equity firm Providence Equity Partners.

The deal values ATG at around £4.5 billion including debt, roughly $6 billion, according to sources. ATG owns a raft of top‑tier theatres on Broadway and London’s West End, as well as dozens of playhouses across the U.S., continental Europe and the U.K.

Its portfolio includes Broadway’s Lyric Theatre, home to “Harry Potter and the Cursed Child,” and historic West End houses staging long‑running hits like “Wicked” and “The Lion King.” The company has been majority owned by Providence since 2013, and Blackstone bought a minority stake in 2024.

Emanuel’s purchase underscores a bet on the ongoing resurgence of live theatre, as the industry rebounds from pandemic lows. The acquisition positions Mari Group at the heart of cultural entertainment, potentially expanding its global reach and influence.