AMBASSADOR THEATRE Group (ATG), the UK’s largest theatre operator may be up for sale.
An article in The Sunday Times claimed that ATG’s majority owner, US firm Providence Equity, was hoping to sell the company for £500 million, after taking control of it in a £350 million deal.
Providence purchased a majority share in the company in 2013 from Exponent Private Equity, who retain a minority stake.
ATG declined to comment when approached by LIVE UK.
However, in comment to The Stage magazine, ATG chief executive Mark Cornell says, “The Sunday Times published a completely inaccurate story – without contacting us – and has since removed it.”
ATG operates more than 50 venues across Britain, the US and Germany including the Empire (cap. 2,369) in Liverpool, Oxford’s New Theatre (1,711) and Victoria Hall (1,635) in Stoke, with its ATG Tickets business processing over 11 million tickets a year.
Providence Equity also backs multi-festival owner Superstruct Entertainment, which operates events such as Kendal Calling (25,000), Truck (18,000), Victorious Festival (65,000).
Providence was unavailable for comment as LIVE UK went to print.
Other ATG venues include Edinburgh’s Playhouse (3,035), Folkestone’s Leas Cliff Hall (1,500), Glasgow’s Theatre Royal (1,505), Manchester’s Opera House (1,875) and Sunderland Empire (1,955).