IPEM Cannes 2024 – The Daily Spin – January, 25th
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
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Ascential, the owners of the Cannes Lions International Festival of Creativity and Money 20/20, have received an acquisition bid from a consortium of investors but will they bite? The consortium includes PE-backed Hyve, and MediaLink, owned by United Talent Agency. The resort town is the iconic setting for the Cannes Lions, whose revenue has grown 30% this year, while Money 20/20 sharpened its focus with a 19% revenue increase. Post-Covid events acquisition opportunities will continue to stay on the (event) horizon of PE investors as revenue drivers; and with the Cannes Lions’ global appeal, the consortium will certainly be hoping its bid is a roaring success. Or will they find themselves clawing back the competition?
