In 1991, when Frieze Magazine was launched in London by old Oxford University friends Amanda Sharp and Matthew Slotover, the whole of the British art world could fit into a pub. There were only around 35 commercial galleries in the UK capital and even fewer in Los Angeles, where Frieze’s new owner, the Hollywood kingpin Ari Emanuel is based.
Frieze’s sale, which was announced on 1 May and is due to be completed by the end of this year, will see the Hollywood entertainment company Endeavor transfer the art fair and media brand to Emanuel for a reported price of nearly $200m—a figure that has surprised many in the industry. Last autumn, Endeavor was rumoured to be asking for what was then considered an already ambitious $80m for its seven global art fairs, Cork Street gallery and flagship magazine.
