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WME | IMG Buys Stake in Frieze Art Fairs

Hannah Ghorashi reports in Artnews that the agency WME | IMG has announced it is investing in Frieze’s art fairs in New York and London as part of a partnership plan. The exact size of the deal and the percentage stake WME | IMG will be taking in Frieze have not been revealed as of yet.

WME | IMG will now sponsor the Frieze Tate Fund as part of the partnership. Established in 2003, the fund has provided means for the Tate to acquire 100 new works by sixty-nine different artists for its collection. The fund, as of this October, will provide the Tate with about $213,000 for acquisitions. In a statement, Frieze cofounders Amanda Sharp and Matthew Slotover said, “We’re really pleased to form a partnership with WME | IMG that will help us increase the value of what we do for the galleries we work with. This partnership will open up a broad range of opportunities across all of Frieze’s activities and enable us to start realizing innovations we’ve been developing over the last year, which we look forward to announcing soon.”

WME | IMG is an entertainment conglomerate run by CEO Ari Emanuel.