The American Pavilion, a communications, hospitality and media center at the Cannes Film Festival, has been acquired by Variety’s parent company Penske Media Corporation.

The American Pavilion was founded in 1989 by Julie Sisk, who will continue to serve as director of the center. Over the years, the hub has offered a membership that includes access to a complimentary Wi-Fi cafe, the Roger Ebert Conference Center, copies to print publications and various events and parties. Additionally, the Pavilion has produced student programs, an emerging filmmaker showcase and a professional development program.

PMC, in conjunction with its different brands, plans to grow the event in Cannes and augment student programs, in addition to expanding beyond Cannes to other global film festivals. Last year, PMC acquired a 50% stake in the annual South by Southwest festival in Austin, Texas.

“We admire what Julie and her team have built over the last 33 years,” said Tom Finn, PMC’s executive vice president of operations and finance. “PMC’s brands have worked closely with the American Pavilion and look forward to helping them continue to be the go-to hub for professionals and emerging filmmakers at Cannes as well as supporting their goals to expand their franchise further.”

Added Sisk: “I’m incredibly proud of what we have built at the American Pavilion over the past three decades. Our physical space has provided a true home for the film industry professionals at Cannes, and our Student and Emerging Filmmaker programs have created a community of young people who have gone on to do amazing things. I am excited to partner with the iconic PMC brands to take our mission to the next level, expanding on our programs at Cannes and beyond.”