What Penske Media's 50% Stake in SXSW Means for the Festival, and Its New Owner

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When South by Southwest returns to downtown Austin, Texas, on March 11, the festival—renowned in part for its reputation as a launchpad for buzzy debuts—will be undergoing perhaps the most significant reinvention in its own 35-year history.

In addition to returning to an in-person format for the first time since 2019, this year also marks the first iteration of SXSW under its new ownership after the Penske Media Corp. purchased a 50% stake in the festival in April 2021.



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