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Penske Now Fully Owns SXSW | Austin News
Penske Media Corporation has fully acquired South by Southwest, snapping up the remaining 50% stake after already owning half since 2021. The move marks a natural evolution of their partnership, as SXSW — once anchored in music — pivots toward film and TV premieres under Penske’s leadership. Despite recent leadership shakeups and a quieter 2024 festival that hurt Austin’s economy, Penske is committed to keeping SXSW in town, with 2027 confirmed. This acquisition bolsters Penske’s live events empire, which now includes the Golden Globes and Billboard Music Awards — proving the festival’s core…
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