Paramount Global is selling its VidCon conference for creators, influencers and video content makers to British media company Informa, which organises fan events Fan Expo, Comicon and more.
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Business Insider learned of the upcoming deal from an anonymous source. Earlier this year, Paramount hired Oaklins’ bank, DeSilva + Phillips, to explore a sale to VidCon, Adweek reported in April.
Informa, in turn, has spent this year acquiring events businesses: in July, the company bought Cannes Lions festival organiser Ascential for £1.2bn (around $1.6bn).
Founded in 2010 by YouTubers Hank and John Green, VidCon attracts more than 75,000 visitors a year and is a flagship event for the creative economy. Viacom, a division of Paramount, purchased VidCon from the Green brothers in 2018.
Another BI source close to VidCon told the publication that conference organizers are optimistic about the sale and believe Informa could help revive VidCon, whose fame has faded in recent years.
Paramount is also currently in the process of merging with David Ellison’s Skydance. His investment fund RedBird Capital Partners intends to invest more than $8 billion in the film company.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
