3 weeks ago
ATG Entertainment, nan British and Broadway theatre usability whose venues location specified awesome productions arsenic The Book of Mormon, Harry Potter and nan Cursed Child and Titanique, is, according to Reuters, “in nan early stages of being prepared for a imaginable waste by its backstage equity owner.”
The news work says it was tipped to nan imaginable waste by 4 group acquainted pinch nan matter.
ATG Entertainment declined Deadline’s petition for a comment. Deadline has besides reached retired to ATG proprietor Providence Equity Partners and will update this station pinch a response.
According to Reuters, a waste could worth nan business astatine much than 4 cardinal pounds ($5.38 billion), based on, among different things, caller earnings. “An auction could commencement successful the 2nd half of nan year, 2 of nan group said, speaking connected information of anonymity because nan talks are private,” Reuters reports, adding, “A last determination has not yet been made, nan group said.”
Providence Equity Partners, according to nan news service, has held talks pinch advisers successful caller weeks astir a sale of its controlling liking successful London’s largest theatre operator.
Previously known arsenic Ambassador Theatre Group, ATG Entertainment owns and operates much than 70 venues crossed nan UK, nan United States, Germany and Spain. Broadway venues see nan Lyric, nan Hudson, nan Al Hirschfeld, nan August Wilson, nan Eugene O’Neill, nan St. James and nan Walter Kerr theaters.
One of those Broadway venues, nan O’Neill, has precocious been successful nan headlines aft a occurrence collapsed retired successful an electrical room astatine nan venue connected May 4, prompting nan impermanent closure of nan deed show The Book of Mormon. Performances are presently group to resume May 27.
ATG Entertainment owns and operates 10 West End venues, including nan Apollo Victoria, nan Lyceum, nan Savoy and others. It is nan largest owner-operator connected nan West End.
It is uncertain really a imaginable waste would effect nan Broadway landscape, aliases which, if any, venues would not beryllium included successful a sale.
Providence took complete ATG Entertainment successful 2013, and nan institution became a awesome Broadway unit successful 2023 successful a merger pinch Jujamcyn Theaters. Operating 7 venues, nan institution is nan 3rd largest of nan Big Three Broadway owners, aft nan Shubert Organization (with 17) and The Nederlander Organization (with 9).
Providence declined remark to Reuters, and ATG Entertainment did not instantly respond to Reuter’s requests.
