SFX Entertainment is working through bankruptcy proceedings, and the latest development involved selling an asset to Universal Music Group. The label bought up digital marketing agency Fame House for $1 million, and agreed to take on about $400,000 in debts and liabilities.
Fame House was rumored to be an asset that SFX wanted to sell in March. That month was also when initial news broke that SFX planned to auction off Beatport, the EDM specialist download store. Beatport has since come off the chopping block, but it has shuttered its streaming component to focus on the downloads.