Adweek was sold for about $20 million to the Toronto-based Beringer Capital on Monday — but many observers were surprised that the Clio Awards that were also being shopped were not sold.

The Brexit vote may have complicated the spinoff, one source said.

The Clio awards are a natural for the Cannes Lions Festival, now owned by the Britain’s Ascential.

But the uncertainty of the Brexit vote left Ascential and other potential UK suitors on the sidelines — at least for the moment.