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tony karman expo chicago director steps down 1234743696

Tony Karman, the longtime director of Expo Chicago, will step down from his role at the end of June, remaining as president in an advisory capacity while the fair searches for a new director. Karman founded Expo Chicago in 2011, succeeding Art Chicago, and has led the fair through 14 editions, including its most recent one last month with 170 exhibitors and over 35,000 visitors. The transition follows Frieze's acquisition of Expo Chicago and the Armory Show in July 2023, and comes amid broader ownership changes at Frieze itself, which was recently sold to a company founded by Ari Emanuel and is now fully owned by private equity firm Silver Lake.

frieze sale ari emanuel 1234740348

Endeavor Group Holdings has sold Frieze, the company behind the influential art magazine and several international art fairs, to a new company formed by former Endeavor CEO Ari Emanuel. The deal, valued at nearly $200 million, is expected to close by the third quarter of this year. Frieze's current leadership, including CEO Simon Fox, will remain in place. The sale follows Endeavor's full privatization by Silver Lake and marks the end of a long-rumored ownership transition. Notably, two tennis tournaments initially bundled in the negotiations—Miami Open and Madrid Open—are not included in this deal.