The value of the combined business now stands at some £150 million.

Live Nation Theatres is home to two of London’s most successful shows; The Lion King (at The Lyceum) and Wicked (at the Apollo Victoria). The acquisition brings the number of ATG theatres up to 39.Former BBC director general Greg Dyke will be joining the company as executive chairman, and Sir Eddie Kulukundis OBE will remain as life president.

Howard Panter, ATG’s joint CEO and creative director said: ‘[Live Nation Theatres is] blessed with some of the world’s best producers and productions. Our aim is to help maintain the shows and theatres as vibrant successes.’

Deloitte’s corporate finance team advised ATG, while Live Nation was advised by Goldman Sachs.