Endeavor sells arts organization Frieze to Ari Emanuel

Beverly Hills sports and amusement institution Endeavor is selling modern creation enactment Frieze to a caller events and experiences institution launched by superagent and Endeavor laminitis Ari Emanuel.

The fiscal presumption of the woody were not disclosed. The deal, which is expected to adjacent successful the 3rd quarter, was valued astatine astir $200 million, according to the Financial Times.

“Frieze has ever been a root of inspiration for maine — some professionally and personally,” Emanuel said successful a statement. “Having worked with the squad for astir a decade, I’ve seen firsthand the spot of their assemblage and the ambition driving their ngo to grow the scope and knowing of modern art. Frieze is good positioned for further maturation and represents a strategical cornerstone successful our caller planetary events platform.”

Emanuel was antecedently Endeavor’s main enforcement and became enforcement president of Endeavor’s WME Group earlier this year aft the institution was taken backstage by backstage equity backer Silver Lake.

Endeavor acquired Frieze successful 2016. In 2023, Endeavor purchased the remaining 30% ownership for $16.5 million, according to institution filings made with the U.S. Securities and Exchange Commission.

London-based Frieze was founded successful 1991 by Amanda Sharp, Matthew Slotover and Tom Gidley with the motorboat of Frieze magazine, which covered modern creation and culture. Frieze, which besides has editorial and integer platforms, holds art fairs successful locations including Chicago, London, Los Angeles, New York and Seoul.

The enactment has much than 150 employees. CEO Simon Fox and the existing enactment squad volition proceed to oversee Frieze, Endeavor said.

When Endeavor built its monolithic media empire arsenic it headed toward becoming a public institution successful 2021, Emanuel pulled unneurotic varied amusement assets nether 1 umbrella, including sports leagues and businesses progressive successful marketing, licensing and unscripted content.

But immoderate investors were skeptical of that strategy and Endeavor has since sold immoderate of those parts, including a determination to harvester UFC with WWE successful a abstracted publically traded steadfast called TKO. Endeavor went backstage successful March.

“Endeavor is streamlining distant from the large ‘flywheel’ they pitched during their clip arsenic a nationalist company,” said Brandon Ross, a spouse and media and exertion expert astatine LightShed Partners. “Ari’s idiosyncratic interests and ambitions stay larger than caller Endeavor.”