Hollywood Mogul Ari Emanuel Acquires Frieze in $200M Deal
- CBO Editorial
- May 2
- 2 min read
Updated: May 5
C-Suite Notes: Ari Emanuel's acquisition of Frieze signals further convergence of premium market sectors--entertainment, fine art and luxury experiences.
In a move that further blurs the lines between entertainment and the art world, Ari Emanuel has acquired Frieze, the influential art fair and media organization, in a deal valued at approximately $200 million.
The sale, announced Thursday, marks the first major acquisition for Emanuel's newly formed, as-yet-unnamed global events and experiences company, backed by a consortium including Apollo Global Management and RedBird Capital Partners. The deal is expected to close by Q3 2025.
"Frieze has always been a source of inspiration for me—both professionally and personally," Emanuel said in a statement. "Having worked with the team for nearly a decade, I've seen firsthand the strength of their community and the ambition driving their mission to expand the reach and understanding of contemporary art."
The acquisition comes just months after Emanuel stepped down as CEO of Endeavor Group Holdings following its $13 billion take-private deal with Silver Lake in March. He now serves as executive chairman of the newly formed WME Group.
What's Included
The deal encompasses:
Four international art fairs (London, New York, Los Angeles, and Seoul)
Frieze magazine and digital platforms
No. 9 Cork Street exhibition space in London
Executive team retention, with CEO Simon Fox continuing to lead the organization
The sale arrives as Frieze prepares to open its 2025 New York edition at The Shed on May 7th, featuring 67 galleries. The timing is particularly notable as the art market navigates a global contraction, with total art sales falling 12% in 2024 to $57.5 billion, according to Art Basel and UBS's "The Art Market 2025" report.
Emanuel's acquisition strategy demonstrates a pattern of targeted divestments and acquisitions following Endeavor's privatization:
Sports betting platform OpenBet was acquired from Endeavor in a management buyout backed by Emanuel
On Location, Professional Bull Riders, and IMG were sold to TKO Group for $3.25 billion
IMG Arena was acquired by SportRadar in a $225 million deal
Market Implications
Industry analysts view the sale as a positive indicator for the art market, particularly given Emanuel's track record with experiential businesses and his established relationships with collectors and galleries. The move also signals continued consolidation in the luxury experiences sector.
Latham & Watkins served as legal advisor to Endeavor, with The Raine Group and BDT & MSD Partners acting as financial advisors. Goldman Sachs and LionTree Advisors represented Emanuel and his investment consortium.
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