Hollywood mogul Ari Emanuel has agreed to acquire ATG Entertainment in a deal that would make him one of the largest landlords on Broadway. 

The deal between Mari, the live events company founded by Emanuel last year, and Providence Equity Partners is valued at an estimated $6B, according to previous reports by the Financial Times. Financial terms were not publicly disclosed.

ATG owns seven of Broadway’s 41 theaters, including the Lyric Theatre, which shows Harry Potter and the Cursed Child, the Eugene O'Neill Theatre, home to Book of Mormon, and the Walter Kerr Theatre, which hosts Hadestown. 

Across the pond, it operates 10 theaters in the West End, London’s entertainment district. 

The global portfolio spans 70 venues across the UK, the U.S., Germany and Spain. The locations host more than 16,000 performances and welcome over 18 million theatergoers each year.

Mari plans to invest in the theaters’ preservation and modernization, as well as support new productions, it said in a press release. ATG will continue to operate under its existing brand and leadership. 

“I’ve spent my whole career in entertainment, and I started out in theater. I’ve seen the industry reinvent itself many times, but live has only grown more powerful,” Emanuel said in a statement. “This is a long-term bet on where live goes next.”

In addition to its real estate, ATG also has an in-house production team. The group’s recent work includes Cabaret at the Kit Kat Club; Plaza Suite, featuring Matthew Broderick and Sarah Jessica Parker; and Sunset Boulevard, starring Nicole Scherzinger.

Blackstone purchased a minority stake in the business in 2024, Sky News reported at the time.

“What I find compelling about MARI is its breadth of experience across live events and its respect for creative independence,” Tony Award winner and ATG producing partner Sonia Friedman said in a statement. “That combination gives us the chance to champion bold new work, reach broader and more diverse audiences and strengthen the future of live theatre for generations to come.”

Last year, Emanuel’s company made its Broadway debut with the acquisition of TodayTix, a ticketing app for theater and other events. The platform accounts for more than 15% of Broadway sales and 20% of West End sales.

Mari launched in October after purchasing IMG’s portfolio of international tennis events, global art organization Frieze and a majority stake in Barrett-Jackson, a collector car auction company.

But Emanuel has been a Hollywood power player long before founding Mari alongside media executive Mark Shapiro.  

Emanuel is the CEO of WME Group, a talent and media agency, as well as CEO and executive chairman of TKO Group Holdings, a sports and entertainment company that owns the Ultimate Fighting Championship and World Wrestling Entertainment. Shapiro is an executive in both ventures. 

Additionally, Emanuel is the brother of Rahm Emanuel, a rumored presidential hopeful who previously served as the mayor of Chicago, President Barack Obama’s White House chief of staff and a three-term congressman representing Illinois.