The story
Beginnings
Squire and Panter had known each other since 1979, and Panter offered Squire a job after she was made redundant in 1986. The company now known as ATG began through Panter meeting property developer brothers Peter and John Beckwith. The Beckwiths' company, London and Edinburgh Trust, was working on a development in Woking, Surrey, that was to include an arts and entertainment complex, and the Beckwiths asked Panter and Squire to plan and manage it. When London and Edinburgh Trust was sold before the Woking development was completed in 1992, a structure was set up that allowed Panter and Squire to continue to run the theatre. Around that time the ATG company was established, with founding investors including Eddie Kulukundis.
In February 1992 ATG bought the Duke of York's Theatre from Capital Radio, with significant support from Kulukundis. In 1995, ATG bought its second London theatre, the Ambassadors. The company also bid successfully for contracts to manage new theatres being launched in Milton Keynes and Stoke-on-Trent.
ACT deal
ATG underwent major expansion in 2000 through the acquisition of seven West End theatres from Associated Capital Theatres (ACT): the Albery (now named the Noël Coward), the Comedy (now named the Harold Pinter), Donmar Warehouse, Phoenix, Piccadilly, Whitehall (now Trafalgar Studios) and Wyndham's theatres. Expansion required the involvement of larger corporate investors including AREA Property Partners and Carlton Television.
Subsequent deals included taking on the running of theatres in Bromley, Richmond and Glasgow.
Live Nation deal
In November 2009, ATG consolidated its position as the major UK theatre owner by purchasing the Live Nation UK theatre portfolio of 16 venues in England and Scotland in a £90 million acquisition. Live Nation sold the theatres as part of a business decision of "selling off assets that are not core to our live music strategy". At that time Exponent Private Equity became the new majority owner of ATG by financing the theatre takeover. Exponent provided at least £75m of financing for the deal, which valued ATG at £150m. Coinciding with the expansion, former BBC director general Greg Dyke joined ATG in a new role of executive chairman.
Potential competition concerns led to an investigation by the UK Office of Fair Trading (OFT). Its conclusion was that "the OFT does not believe that it is or may be the case that the merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom" and "[t]his merger will therefore not be referred to the Competition Commission".
Expansion outside the UK
In 2012, ATG indicated an intention to expand into international theatre ownership, possibly in Australia and China. This included the appointment of Tim McFarlane as CEO for ATG Asia/Pacific. In November 2012 ATG announced it would establish a regional headquarters in Sydney.
ATG's acquisition of Broadway's Foxwoods Theatre in May 2013 heralded the company's US debut, with Panter commenting, "Ownership of The Foxwoods Theatre within the group will provide a catalyst to expand in the North American market." (In March 2014, ATG renamed the venue the Lyric Theatre, following the end of the naming sponsorship deal.)
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Later in 2013, global private equity firm buyout firm Providence Equity Partners purchased became a majority shareholder in ATG from Exponent. Exponent retains a minority stake in ATG as part of the deal and continues to work with Providence and the existing management team including Joint CEO's and co-founders Sir Howard Panter and Rosemary Squire OBE. Greg Dyke continues in his role as ATG chairman.
In August 2015, ATG became leaseholder and took over the management of the Theatre Royal, Sydney's oldest theatrical institution – marking ATG's first theatre in Asia Pacific. In September of the same year, ATG acquired ACE Theatrical Group. ACE operates the King's Theatre in Brooklyn, New York; the Saenger Theatre in New Orleans, Louisiana; the Mahalia Jackson Theater for the Performing Arts in New Orleans, Louisiana; the Majestic Theatre in San Antonio, Texas; and the Charline McCombs Empire Theatre in San Antonio, Texas. In December 2015, ATG announced that through its subsidiary, Hudson Theatre LLC, ATG entered a long-term lease for the Hudson Theatre, its second theatre on Broadway, from a subsidiary of Millennium & Copthorne Hotels plc group of companies (M&C).
In February 2023, it was announced that ATG would merge with Jujamcyn Theaters. In July 2023, Jordan Roth sold a 93 percent stake in Jujamcyn's five theaters to ATG and Providence Equity. In exchange, Roth bought a 7 percent ownership stake in ATG's two other Broadway theaters, the Lyric Theatre and the Hudson Theatre.
In 2024, ATG acquired Celebrity Attractions, which presented shows at the Tulsa Performing Arts Center in Tulsa, Oklahoma, Robinson Center in Little Rock, Arkansas and Juanita K. Hammons Hall for the Performing Arts in Springfield, Missouri.
In 2026, Ari Emanuel's holding company MARI reached a deal to buy Providence Equity's stake in ATG. The terms of the deal were not released but were estimated by The Hollywood Reporter at $6 billion.
From Wikipedia’s article on ATG Entertainment, shared under CC BY-SA 4.0.3