Providence Equity Partners to Provide £50m to Ambassador Theatre Group to Help its Venues Survive the Health Crisis

Sky News has reported that Providence Equity Partners will inject £50m in new equity into Ambassador Theatre Group in order to help it survive the shutdown of its venues due to the health crisis. AGT venues include London's Lyceum Theatre, Savoy Theatre and more.

Read the full story HERE.

ATG theatres have been home to some of the world's biggest shows, including The Lion King, Les Miserables and Wicked. Live entertainment groups have struggled massively in the wake of the COVID-19 pandemic.

According to Sky News, one source claimed that the £50m equity injection from Providence Equity Partners was likely to be "the first step" in a financial support package.

An industry insider shared: "Theatres are going to be among the last businesses to return to anything like normality... This is going to be a very long haul."

Check out the full story HERE.