New owners of the Cannes Festival
The Cannes Lions advertising festival will apparently soon be under new ownership. The buyers are the London-based Guardian newspaper group and the investment company Apax.
The Cannes Lions advertising festival will apparently soon be under new ownership: the London-based Guardian newspaper group and the investment company Apax want to jointly take over the entire B-to-B business of Emap Communications, to which Cannes Lions previously belonged. Apax and the Guardian Group have founded the company Eden Bidco for this purpose. As Horizont.de writes, the buyers and Emap have reached agreement on the deal. The purchase price for Emap's B-to-B division is said to be the equivalent of around 2.2 billion Swiss francs.
