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Hollywood powerbroker Ari Emanuel is set to acquire the Frieze global art fair and publishing group from Endeavor, the entertainment group he co-founded, in a deal valued at $200 million. The sale is expected to close in the third quarter of the year, as announced by Endeavor on Thursday. While the specific terms of the acquisition have not been disclosed, sources familiar with the deal have indicated that it would value Frieze at nearly $200 million, surpassing initial expectations.
This marks the first acquisition by Emanuel’s global events company, which is supported by a consortium of investors including Apollo Global Management and RedBird Capital Partners. “Frieze has always been a source of inspiration for me—both professionally and personally,” stated Emanuel. He added that the fair group represents a strategic cornerstone in their new global events platform.
The consortium is also in contention to purchase Endeavor’s tennis assets, which include the Miami and Madrid Open tournaments, as reported by Bloomberg News. Endeavor, the US-based entertainment group that was recently acquired for $25 billion by private equity firm Silver Lake, initially acquired a 70 percent stake in Frieze in 2016 under Emanuel’s leadership, before taking full ownership in 2023. Last year, Endeavor announced its intention to explore a sale of Frieze.
Following the takeover, Emanuel stepped down as Endeavor’s CEO and currently serves as the executive chair of WME Group, Endeavor’s Hollywood talent agency. Frieze, originally founded as a contemporary art magazine in 1991, launched its first fair in London in 2003. The group now organizes seven events globally, including in Seoul and four in the US, along with a gallery hub in London. Frieze New York is set to open its 13th edition next week.
Simon Fox, CEO of Frieze, will continue in his role along with the rest of the leadership team, ensuring a seamless transition under the new ownership. Fox expressed optimism, stating that with the support of the new ownership, they are well-positioned to accelerate their creativity, collaboration, and growth.
Emanuel’s acquisition comes at a challenging time for the art market, which has been experiencing a downturn for several years. Global art sales declined by 12 percent to $57.5 billion in 2024, marking the lowest level in eight years, excluding the impact of the Covid-19 pandemic in 2020. MCH Group, the owner of Frieze’s rival Art Basel, managed to achieve a slim net profit in 2024 after suffering losses in previous years.
In conclusion, Ari Emanuel’s purchase of Frieze represents a significant development in the art world, signaling a new chapter for the renowned fair group. The integration of Frieze into Emanuel’s global events company holds promise for future growth and innovation in the art market.
Additional reporting by James Fontanella-Khan and Antoine Gara in New York
