SXSW Festival Co-Founder Louis Meyers Dead at 60
03/11/2016 AT 09:00 PM EST
Folk Alliance International Director Aengus Finnan confirmed that Meyers died in Austin on Friday. The cause of death was not immediately known.
On that same day, President Obama made a historic visit to SXSW and became the first sitting U.S. president to attend the gathering. First Lady Michelle Obama is scheduled to speak on Wednesday.
In 1987, Meyers, who was also a banjo player, started the interactive, music and film gathering alongside Roland Swenson, Nick Barbaro, Louis Black, Joe Rae DiMenno and Linda Owen.
Meyers sold his share of SXSW in 1994, citing "stress" and "health problems" due to organizing the annual festival year after year.