Endeavor announced it will sell Frieze, its leading art fair and media brand, to a new company founded by former CEO Ari Emanuel. Following Endeavor's $13 billion buyout by Silver Lake, the art fair was floated for sale. Emanuel's consortium of investors, including Apollo Global Management and Redbird Capital, aims to secure Frieze as a foundational aspect of their global events company. The acquisition, reportedly near $200 million, includes various art fairs and initiatives. Emanuel plans to leverage his experience working with Frieze to expand its reach and understanding of contemporary art, with leadership remaining unchanged post-sale.
"Frieze has always been a source of inspiration for me-both professionally and personally... Frieze is well positioned for further growth and represents a strategic cornerstone in our new global events platform."
"To bring Frieze back under his control, Emanuel has created an as-yet-unnamed global events and experiences company, backed by a consortium of global investors."
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