MediaPost reported Ascential—parent company of the Cannes Lions International Festival of Creativity—is considering a $1.5 billion acquisition offer from UK-based Informa.
There’s something appropriate about an enterprise tied to Adland—where mergers and acquisitions are common occurrences for White advertising agencies and holding companies—now undergoing the process too.
Based on their respective websites, both companies appear to be run by White men and White women—so there’s a corporate and cultural fit. Don’t expect either place, however, to land a Glass Lion or other patronizing trophy for performative DEIBA+ achievements.
Indeed, any such prize for Ascential or Informa would likely constitute a scam award.
Cannes Lions Operator Ascential Weighing $1.5B Bid
By Joe Mandese
Ascential plc, the parent company of the Cannes Lions festival and other assets relevant to the ad industry, is weighing a $1.5 billion acquisition offer from British publishing company Informa plc.
“Following recent movement in Ascential’s share price, the board of Ascential confirms that it has received a conditional proposal from Informa PLC regarding a possible cash offer for the entire issued and to be issued share capital of Ascential at 568 pence per Ascential share,” Ascential said in a regulatory statement, adding that the current proposal follows “a number of approaches by Informa to Ascential in recent months.”
The statement goes on to say Ascential’s board is “minded to recommend” Informa’s most recent proposal.
Ascential, which recently sold its Flywheel Digital commerce assets to Omnicom for nearly a billion dollars, also is in the process of selling agency technology startup Hudson MX, which it has said it is discussing with multiple potential bidders.
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