The long-beleaguered SFX has emerged from Chapter 11 bankruptcy rebranded as LiveStyle. The company is still a specialist in electronic music, but the revamped version appears to be doubling down on live events. Continue Reading
SFX Entertainment has had a tumultuous year thus far, but it seems some of the recent decisions around its Beatport brand have had positive impact. The company opted to take the EDM specialist off the auction block in May and removed the streaming components of that brand to focus on the download store. Continue Reading
SFX Entertainment has ended its pre-Chapter 11 restructuring support agreement. The entertainment company will keep working with its ad hoc group of bondholders, but there is no hard timeline for it emerging from its financial woes. Continue Reading
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. Continue Reading
Beatport announced that it is ending operation of its streaming service and mobile app. The official blog post said the change was an effort “to invest in what is most important to our business and our customers, rather than adding yet another choice to a sea of streaming services.” Continue Reading
SFX is making plans to auction off online EDM portal Beatport as it continues through bankruptcy proceedings. It has attracted interested parties for the property and will solicit initial bids in April with an auction slated for May 3. Continue Reading
After several months of speculation, SFX Entertainment has declared Chapter 11 bankruptcy. The electronic music company is seeking a debt-for-equity swap with its bondhonders in order to remove $300 million of debt from its balance sheet. Continue Reading
EDM specialist Beatport has entered into a partnership with Looplabs, a collaborative music studio platform. The deal seems focused on fostering crossover between the two services’ audience bases. Even though Beatport is still engaging with other music platforms, parent company SFX Entertainment has been drawing lots of scrutiny. Continue Reading
A new chapter has unfolded in the saga of SFX Entertainment, its CEO, and a quest for ownership. Robert F.X. Sillerman recently made a third attempt to buy back the remaining shares of his company for $3.25 a share, but withdrew the offer earlier this week. Continue Reading
SFX appeared to be pulling itself out of a financial hole last week with the announcement of $90 million in new funding. But the hits are still coming for the company. Its investors have reportedly hired a Los Angeles law firm to investigate SFX after allegations of fraud. Continue Reading
SFX announced that it has secured $60 million in new financing. The company also refinanced its $30 million revolving credit facilities for a total of $90 million. Its founder had made an effort to take the company private but was unable to secure backing as share prices have been dropping. Continue Reading
SFX Entertainment reported revenue of $121.1 million in the second quarter, up 48.3% from the year-ago period. However, the parent company for online EDM specialty platform Beatport also posted an increase in net losses, up 36.2% to $48 million for the quarter. Continue Reading