Business News - The Stage: Ambassador Theatre Group has confirmed that it has confirmed that it has been sold to private equity firm Providence Equity.
The cost of the deal has not been confirmed, but ATG is understood to have been valued at between £250 million and £350 million. This would make the deal the largest ever brokered for a UK theatre company.
Providence has taken on a majority stake in the company with ATG’s previous main investor, Exponent, retaining an 18% stake.
1 comment:
The business side of theatre is still pretty foreign to me, but it was interesting to learn that theatre companies too can be sold and bought in larger scale terms as well. I remember talking about business consolidation in a communications/media class, and how combining companies under one umbrella of control can limit the number of voices out there. It seems like in this case, it's more of a collaborative process between the two companies and ATG will be continuing much in the way that it has been, but it's at least something to keep in mind.
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