P-MRC Holdings has made a deal with South by Southwest that would make the media company a long-term partner with and shareholder of the Austin, TX festival.
P-MRC, which has acquired 50% of SXSW per WSJ, is a joint venture between Deadline parent company Penske Media Corporation and MRC.“It has been an incredibly tough period for small businesses, SXSW included,” said CEO and Co-Founder Roland Swenson. “When Jay Penske approached us with an interest in becoming a partner, it was a true lifeline for us.
Both of our companies share a passion for producing high quality content that helps shape modern culture, so this feels like a natural alliance.
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