Penske Media Corp. has acquired ATX TV, the entity that operates the annual television festival in Austin, Tex. The deal calls for PMC, which is the parent company of Variety, to help expand the sc…
, who put themselves on the map in a short time by smartly programming a mix of nostalgic reunions, lively table reads plus a mix of buzzy premieres and industry-centric panels. ATX has become a high-visibility event for TV promotional events, but it’s still managed to maintain a low-key atmosphere for creative talent that appeals to Hollywood insiders. In 2017,Gipson and McFarland will remain at the helm of ATX as co-presidents and co-founders.
ATX TV is a natural fit with PMC’s portfolio that includes the Austin-based SXSW event franchise, which is in the process of expanding to Sydney, Australia, next year. PMC also recently acquired the Life Is Beautiful festival and next month will launch LA3C, a multi-day music and culture event celebrating the creativity and communities of Los Angeles.
“Our vision for ATX TV is expansive,” said McFarland. “We have always had our eyes on creating year- round programming and engagement, but the pandemic marked an inflection point for us all. We realized that we needed to expand to digital content and grow beyond a yearly festival to service our business and our audience…ATX TV also needed more resources to achieve our very big goals.
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