Unlock the publisher’s digest free
Roula Khalaf, editor -in -chief of the FT, selects her favorite stories in this weekly newsletter.
Hollywood Power-Broker Ari Emanuel buys the group of Frieze Global Art Fair and Publishing from Endeavour, the entertainment group he 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.
ENDEAVOUR – 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 all the property in 2023. He declared last year that he was exploring a sale of Frieze.
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.
Frieze was founded as a contemporary art magazine 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 supports a multi -year crisis, even before uncertainty was invited to Donald Trump prices. In 2024, global sales fell 12% to $ 57.5 billion, their lowest level for eight years, excluding 2020, when the pandemic and the locking of the pandemic and rental of COVID-19 were 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
