Aug 31, 2026 | 10:58 am
One of Austin’s cultural fixtures is closing a big chapter. Co-founder Nick Barbaro and 29 other longtime investors are selling their stakes in South by Southwest (SXSW) to a West Coast media conglomerate, making it the brand’s sole owner.
In 2021, Penske Media bought a 50 percent stake in SXSW, making it a majority stakeholder in the brand. With its 2026 purchase of the outstanding stake for an undisclosed amount, Penske Media takes over as the full owner.
Los Angeles-based Penske Media announced in a press release that the headquarters of SXSW will remain in Austin, and next year’s conference and festival will go on as planned. In four decades, the local gathering has evolved into a globally known event…