Len Blavatnik’s Access Entertainment has bought one of London’s oldest theaters.

The billionaire’s company, which is run by former BBC television chief Danny Cohen, has acquired the Theatre Royal Haymarket to boost both “much-loved” and “emerging” talent.

It was previously owned by Louis I Michaels and Enid Chanelle, whose son-in-law Arnold Crook put it up for sale.

The theater is currently showing Tartuffe, an adaptation of Moliere’s classic comedy, written by Dangerous Liaison and Atonement writer Christopher Hampton. It is set to launch Broken Wings, a musical based on Kahlil Gibran’s novel, in August.

Cohen said: “London’s West End is a world-leading powerhouse of artistic talent and through this acquisition we will contribute to its ongoing success. When it comes to great talent the boundaries between film, television and theatre have never been more porous, so this acquisition creates great opportunities for Access Entertainment across the world.”

Blavatnik said: “The UK is home to many of the world’s most remarkable artistic talents. We are proud to be the new owners of the Theatre Royal Haymarket and will continue its long tradition of excellence.”