Paramount Global is selling its creator conference VidCon to London-based media firm Informa, which already owns fan conventions like Toronto Comicon, TheWrap can confirm.
VidCon is an annual convention for influencers, fans, executives and online brands that was founded by veteran YouTubers John and Hank Green in 2010, and acquired by Viacom, a division of Paramount, in 2018.
“Our co-CEOs recently laid out a strategic plan for Paramount, including optimizing the company’s portfolio to position us for the future. While VidCon is not core to our asset mix, we are pleased that it will continue to bring together digital creators, platform innovators and fans under Informa’s ownership going forward,” a Paramount spokesperson told TheWrap on Monday.
Paramount hired American bank Oaklins DeSilva+Phillips to find a private equity firm interested in VidCon, Adweek reported in April.
In July, Informa made an offer for the owner of the Cannes Lions Festival, Ascential, for approximately £1.2 billion ($1.6 billion). Earlier this year, per the company’s website, they merged their Informa Tech digital businesses with American-owned TechTarget.
“The idea of VidCon sitting inside a company that lives and breathes events all day is probably a good thing,” a source inside the company told Business Insider. The price of the sale was not disclosed.
VidcCon 2024 was held in June in Anaheim and featured guests including YouTube comedian Brandon Rogers and TikTok star Leo González. In a post-event press release, the company said the convention had been attended by 55,000 people.
However, Business Insider also reported that this year’s gathering was “more toned down” with “fewer platforms and creator-economy startups” that may have opted to attend Austin’s SXSW or Cannes instead.
VidCon also hosts events in other cities such as Baltimore, although that city’s con was canceled in July. The company announced last month that it “will allow the company to dedicate its full efforts and resources to VidCon’s flagship event in Anaheim, scheduled for Summer 2025.”
When VidCon 2020 was canceled during the COVID epidemic, it cost Anaheim and content creators more than $60 million. The conference was also canceled in 2021.
On Monday, Bloomberg reported that Paramount was also exploring the potential sale of a dozen independent TV stations, including ones in New York, Philadelphia, Dallas and Tampa. The asking price could run between $500 million and $1 billion.
Business Insider first reported this story.
