SFX Entertainment (NASDAQ: SFXE), the company led by Robert FX Sillerman that set out to conquer dance music with $1 billion in 2011, is reportedly exploring a fire sale of its assets including Beatport and ID&T after the TomorrowWorld catastrophe hammers another nail in its coffin and brings stock prices to a new low. Less than a month [...]
UPDATE: SFX representatives contacted LessThan3 and issued the following statement: “The OneTribe festival in SoCal is being indefinitely postponed due to various unforeseen events and circumstances.” SFX said they will be issuing an official statement and refund information shortly. One Tribe Festival, the brand new event by ID&T in [...]
After seeing their stock plummet once CEO Robert Sillerman missed the deadline to finalize his go-private offer, SFX’s directors are looking to sell off the company in parts or in whole in a new, restriction-free shop period. Sillerman had until 10 a.m. EDT Aug. 13 to find the funds to take the event behemoth private, but as the cutoff [...]
UPDATE: Symphonic Distribution has reported that Beatport will send outstanding Q2 payments to labels next week. Beatport and SFX Chairman & CEO Robert Sillerman have both made statements which can be seen below: It was confirmed today that Beatport’s label supplier payments, which have been delayed temporarily via a hold at SFX [...]
ID&T’s North American expansion TomorrowWorld released its Phase II lineup, adding Bassnectar, Kaskade, live shows by Porter Robinson and Rudimental, and more to the third annual weekend festival outside Atlanta. The balanced second addition offers a little bit of everything except possibly for trance, which was represented to an extent [...]
In what would be earth-shattering news for any other company, EDM/festival giant SFX (SFXE) posted a loss of $131 million on revenue of $354.4 million for the fourth fiscal quarter of 2014. However, in intriguing news, the company appears unfazed and promises a “strong” overall 2015 with gross income expected to reach $500 million. ​ [...]
Ever been afraid to stream that new Beatport #1 because you’re getting close to your data limit for the month? Thanks to a newly expanded sponsorship with T-Mobile, SFX Entertainment (SFXE) is making sure that you’ll never have that problem again. T-Mobile, already the exclusive mobile partner of SFX, will now offer unlimited music [...]
After coming under fire for drug overdoses and performance cancellations, Electric Zoo is looking to start fresh in 2015 with a new partnership with ID&T. Arriving with the tagline “Reimagined. Recharged. Reenergized,” Electric Zoo will return to Randall’s Island for a seventh year with festival designers ID&T crafting a brand new [...]
Media conglomerate SFX Entertainment has announced a 50% purchase of Alda Events, better known as the live touring company behind ASOT, Armin Only and I Am Hardwell. While it may seem like a simple case of yet another dance music brand being acquired by SFX, the deal actually has some interesting implications for the scene. In return [...]
Robert FX Sillerman reported purchasing $2.8 million worth of shares in his electronic music holdings company SFX Entertainment (SFXE) today after reports surfaced that the CEO had yet to follow through on his promise to do so, sparking debate over the company’s future. Sillerman filed a Form 4 with the US Securities And Exchange [...]
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