Hi everyone! First thanks for reading this, I really appreciate it. The company I work for has two sites one is an event website and the other is a blog. The blog gets a great amount of the traffic and propels sales. The event website doesn't get much traffic but has been around for awhile and has garnered a 6 Google Page rank with a lot of backlinks and referring domains. The event website, though, has the same name of the company and this sometimes gets confusing when talking to businesses so the executives in charge want to make the event website an umbrella site for the company (very similar to Virgin's website). They will keep the event website but rebrand it with a new domain and basically start over. The good news about this is the event website, even though it has high link strength, has a lot of 404s because they had a previous database that they dumped leading to a lot of 404s (I made them change those to 410s).
Here's my issue. I want to keep the SEO strength of the event website for the event website. Could I do a 301 redirect for a couple months and then take it off and make the umbrella site? Would the strength pass? Or would it be possible to do a 301 redirect in the subfolders where most of the content and links are? Or would you recommend another method of transferring the strength of the site?