Source: Adweek
The Clio Awards, a 58-year-old mainstay of the ad industry awards circuit, announced that it has been acquired by investment company Evolution Media. The financial details of the deal were not disclosed.
The Clio company’s primary offering, its annual show honoring the best in creative advertising around the world, will continue to operate as it has since its founding in 1959 with no significant leadership or structural changes.
“Evolution Media is focused on identifying and partnering with companies that are at the intersection of media, technology and entertainment,” said Rick Hess and Bob Stanley, co-managing partners of Evolution Media, in a statement. “The Clio Awards have a rich and long-standing history of recognizing and cultivating the most creative thinkers and brands in the world, and we are looking forward to accelerating their growth.”
“Evolution Media’s connectivity to the entertainment and technology industries is a tremendous advantage,” added Clio president Nicole Purcell. “We are thrilled to join Evolution Media’s portfolio and have the opportunity to leverage their network and resources to take the Clios—and the creative industry—to the next level.”
The announcement does not include specific plans for growth within the Clios organization, but the Clios have recently expanded to include divisions created to honor other industries outside the world of traditional ad agencies and their clients.
