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Penske Media Acquires 50% Stake in South by Southwest Festival Deal comes as SXSW and other events have been put on hold due to the pandemicSean Burch | April 19, 2021 @ 7:57 AM Last Updated: April 19, 2021 @ 8:00 AM Getty Images P-MRC, the joint venture of publisher Penske Media and MRC, announced a significant investment in South by Southwest, the popular Austin, Texas festival, on Monday. The Wall Street Journal reported P-MRC will acquire 50% of SXSW in the deal, although financial terms were not disclosed. The deal adds to P-MRC’s expanding list of holdings, which already includes a number of media outlets, including Variety, The Hollywood Reporter and Rolling Stone. It also comes after the festival and conference business has essentially vanished over the last year due to the coronavirus pandemic; SXSW which typically has an eclectic mix of entertainment, music and tech-focused shows and conferences was forced to have a condensed, online-only version of

United statesRoland swensonJay penskePenske mediaWall street journalHollywood reporterஒன்றுபட்டது மாநிலங்களில்ரோலண்ட் ஸ்வென்சன்ஜெய் பேண்ஸ்க்கேபேண்ஸ்க்கே மீடியாசுவர் தெரு இதழ்ஹாலிவுட் நிருபர்