Penske Media buys big stake in SXSW in bid to save festival: report

By Gotham Rex on April 18, 2021

Penske Media Corp. — the publisher of titles including Rolling Stone, Billboard and Variety — has struck a deal for a 50 percent stake in South by Southwest, according to a report on Sunday. The deal will give the popular Texas tech, movie and music festival a “lifeline” amid the coronavirus pandemic, The Wall Street…
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