Frieze, the organization behind major international art fairs and an editorial platform, is being sold to a new company founded by media mogul Ari Emanuel. Current owner Endeavor Group Holdings, which Emanuel co-founded and previously served as CEO, announced the deal with Emanuel’s newly established, still-unnamed venture on Thursday. The news comes just days before the opening of Frieze New York, which begins with a VIP preview on May 7th.
The deal, believed to be valued at around $200 million, is projected to close in the third quarter of the year, as reported by the Financial Times. The acquisitions include Frieze’s magazine and its seven international fairs, including Frieze Los Angeles and Frieze Seoul, alongside newly acquired fairs EXPO Chicago and The Armory Show. The leadership team, including CEO Simon Fox, will remain in place and work alongside Emanuel during the transition.
“Frieze has always been a source of inspiration for me—both professionally and personally,” said Emanuel in a press 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. Frieze is well positioned for further growth and represents a strategic cornerstone in our new global events platform.”
The sale comes amid an ongoing slump in the art market, compounded by Donald Trump’s proposed tariffs. According to Art Basel and UBS’s “The Art Market 2025” report, total art sales fell 12% in 2024 to an estimated $57.5 billion. Despite these concerns, Fox assured the Financial Times that “with the support of new ownership, we’re well placed to accelerate our creativity, collaboration, and growth.”
The sale is the latest move in a broader restructuring effort at Endeavor, which first acquired a stake in Frieze nine years ago before taking full control in 2023. The firm, valued at $13 billion including debt in April 2024, was taken private by the private equity group Silver Lake in March, at which time Emanuel stepped down as chief executive.
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