Hollywood Powerbroker Ari Emanuel He buys Frieze Global Art Fair and an Endeavor publishing group, the entertainment group, which he co -founded, in a deal estimated at $ 200 million.
The sale is likely to end in the third quarter of the year, according to an Endeavor statement on Thursday. Although the acquisition conditions have not been announced, people with direct knowledge of the deal said it would evaluate Frieze at $ 200MN, placing it above expectations.
This is the first purchase of Emanuel’s Global Events Company, which is supported by a consortium by investors, including Apollo Global Management and Redbird Capital Partners investment companies.
“Fries has always been a source of inspiration for me – both professionally and personally,” Emanuel said. The fair group “is a strategic milestone in our new global events platform,” he added.
The consortium continues to buy Endeavour tennis assets, which include Miami and Madrid tournaments, open, Bloomberg News reported earlier.
Endeavor-based US entertainment group that was Bought for $ 25 billion Earlier this year from the Silver Lake Private Shares Company – it first bought a 70 % share in Frize in 2016 under the leadership of Emanuel and then took over the full property in 2023, said last year that it examined the sale of sale of sale FriezeS
Emanuel has left his role as CEO of Endeavour as a result of absorption and he is the executive chairman of WME Group, Hollywood Talent Agency of Endeavor.
Frieze It was founded as a modern art magazine in 1991 and launched its first London Fair in 2003. The group is now holding seven events around the world, including one in Seoul and four in the United States, as well as at a gallery center in London. Next week, Friez New York opens its 13th edition.
Frisian Executive Director Simon Fox remains in his role with the rest of the management team and promises a “trouble -free transition”. Fox told the Financial Times that “with the support of new property, we are well placed to accelerate our creativity, cooperation and growth.”
Emanuel’s purchase comes when the art market withstands a perennial decline, even before Uncertainty caused by Donald Trump’s tariffsS In 2024, global sales fell 12 percent to $ 57.5 billion, their lowest level in eight years, except for 2020, when the pandemic and Covid-19 lock hit sales, according to the latest ART Basel / UBS Art Markt report. The Mch Group, which owns a rival at Friend Art Basel, made a thin net profit in 2024 after years of losses.
Additional reporting by James Fontanela-Khan and Antoine Gara in New York