Blackstone in Advanced Talks to Buy Stake in ATG, Sky Reports

Blackstone Inc. is in advanced talks to buy a minority stake in theAmbassador Theatre Group from Australian entertainment firm TEG Pty Limited, according to Sky News.

The deal would involve a stake between 10% and 15% in the owner of some of London’s west end playhouses, including Duke of York’s and Lyceum theaters, Sky reported on Saturday citing a person familiar with the matter.

ATG has been majority-owned by Providence Equity Partners Inc. since 2013 and operates roughly 60 theaters, dozens of which in the UK, according to Sky.

Blackstone and Providence both declined to comment to Sky. ...