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Hollywood Power Broker Ari Emanuel Buy the Firze Global Art Fair and Publishing Group of Endeavour, the entertainment group it has co -founded, in an agreement worth 200 million dollars.
The sale is expected to be completed in the third quarter of the year, according to a statement from Endeavor on Thursday. Although the terms of the acquisition have not been disclosed, persons with direct knowledge of the agreement said it would value frieze at nearly $ 200 million, which was above expectations.
This is the first purchase of the global event company in Emanuel, which is supported by an investor consortium, including Apollo Global Management and Redbird Capital Partners.
“Frieze has always been an inspiration for me – both professionally and personally,” said Emanuel. The fair group “represents a strategic cornerstone in our new global event platform,” he added.
The consortium is also in the running to buy Endeavour tennis active ingredients, including Miami and Madrid Open tournaments, Bloomberg News reported.
ENDENDOUR – The Entertainment Group based in the United States which was Bought for $ 25 billion Earlier this year by the investment company Silver Lake – first bought a 70% stake in Frieze in 2016 under the direction of Emanuel, then took fully possession in 2023. He declared last year that she explored a sale of sale Curly.
Emanuel left his role as general manager of Endeavour following the takeover and he is the executive president of WME Group, Endeavour's Hollywood Talent Agency.
Curly was founded as a magazine of contemporary art in 1991 and launched its first fair in London in 2003. The group now organizes seven events around the world, including one in Seoul and four in the United States, as well as a gallery center in London. Next week, Frieze New York opens its 13th edition.
The director general of Frieze, Simon Fox, remains in his role, with the rest of the management team, and promises “a transparent transition”. Fox told Financial Times that “with the support of a new property, we are well placed to accelerate our creativity, our collaboration and our growth”.
The purchase of Emanuel occurs while the art market undergoes a Plurimande crisis, even before the Uncertainty caused by Donald Trump's prices. In 2024, global sales dropped from 12% to $ 57.5 billion, their lowest level for eight years, excluding 2020, when the pandemic and the locking of the pandemic and rental are sales, according to the latest Art Basel / UBS Art Market ratio. MCH Group, which has Frieze Rival Art Basel, made a thin net profit in 2024 after years of losses.
Additional report by James Fontanella-Khan and Antoine Gara in New York
