ATG Entertainment, a significant operator of theaters in the UK and on Broadway, is reportedly being prepared for a possible sale by its private equity owner, Providence Equity Partners. This news comes from Reuters, based on information from four sources familiar with the matter. Productions housed in ATG venues include "The Book of Mormon," "Harry Potter and the Cursed Child," and "Titanique."
A potential sale of ATG Entertainment could value the business at more than 4 billion pounds, which translates to approximately $5.38 billion. This valuation is based on various factors, including recent earnings. An auction process for the company might commence in the latter half of the current year, according to two of the sources, who spoke anonymously due to the private nature of the discussions. However, a definitive decision regarding the sale has not yet been finalized.
Providence Equity Partners has held discussions with advisers in recent weeks concerning the sale of its controlling stake in ATG Entertainment. The company, formerly known as Ambassador Theatre Group, operates over 70 venues across the UK, the United States, Germany, and Spain. Its Broadway portfolio includes prominent theaters such as the Lyric, Hudson, Al Hirschfeld, August Wilson, Eugene O'Neill, St. James, and Walter Kerr. On the West End, it is the largest owner-operator, with 10 venues including the Apollo Victoria, Lyceum, and Savoy. Providence acquired ATG Entertainment in 2013 and, through a merger with Jujamcyn Theaters in 2023, became the third-largest Broadway owner, operating seven venues, behind The Shubert Organization (17 venues) and The Nederlander Organization (9 venues).
