• SFX Facing Class-Action Lawsuit From Shareholders

    SFX Entertainment is facing a potential class action lawsuit from shareholders over Chairman and CEO Robert Sillerman's recent attempt to take the company private during a "go shop" period from May to Augus, which failed. The lawsuit alleges that Sillerman intentionally mislead investors as he attempted to purchase all the common stock he did not already own with promises he could not keep.

  • Robert Sillerman 'Reaffirms' Desire To Take SFX Private

    On Friday, as stock sunk to all time low, SFX Entertainment seeming destined to be sold off piece by piece as it announced that the company had failed to secure financing to go private and was considering bids for parts or the firm as a whole. At the time, it appeared as though there was a faint possibility that Chairman and CEO Robert Sillerman would take the company at a revised share price in line with current market conditions. According to a statement, Sillerman "reaffirmed his intent" to take the company private with a revised offer that reflects where the stock is currently being traded.

  • Robert Sillerman's SFX Entertainment Privatization Plan Fails

    In the past few weeks, things have started to look bleak for Robert F.X. Sillerman in his big to try and take dance music conglomerate SFX Entertainment private. He had been struggling to find the financing from investors to begin an aggressive share buyback plan at the agreed price in May of $5.25 per share. Now that the company's share are valued at $1.39, that initial offer has become untenable and SFX is now exploring other options.

  • SFX Stocks Slump on Weak Q2 Earnings Report, Despite Revenue Growth

    SFX Entertainment's stock has tumbled once more after reporting its Q2 earnings to investors. Despite having strong revenue growth, primarily from the busy summer festival season, the company reported weak earnings and a net loss of $48 million. SFX stock took a spill on Monday (Aug. 10), falling 22 percent to an all-time low of $2.36 before the second quarter earnings were released after the end of day trading.

  • SFX, Beatport Apologize For Suspending Label Royalty Payments

    Beatport and its parent company SFX have apologized for suspending royalty payments to labels and rights holders from money earned on the website. In a memo sent out to rights holders and labels, SFX Chairman and CEO Robert F.X. Sillerman said he was "deeply embarrassed" about what happened and promised to have payments processed next week.

  • Beatport Freezes Payments To Labels As SFX Privatization Deadline Looms

    Beatport is in a transitional period right now as it changes leadership, attempts to shift focus from just a retailer of electronic music to a streaming service and editorial outlet, while also coping with the turmoil of its parent company SFX. It appeared to be turning the corner having just announced an exclusive partnership with Spotify and on its way to a successful 2015, but now news has emerged that the Denver based company has suspended payments to labels while SFX completes its ongoing privatization process.

  • SFX Names New Beatport CEO Amid Company Restructuring

    Electronic music conglomerate SFX Entertainment has announced a new shakeup at its executive level, hinting at a new direction for its music marketplace and editorial home, Beatport. Amid a larger overall organizational change that is underway, SFX has announced that former COO of Beatport, Greg Consiglio will take over as President and CEO of the company.

  • Robert Sillerman Taking SFX Entertainment Private After Raising Offer

    SFX Entertainment announced on Tuesday, May 26 that it was officially going to be taken private by its Chairman and CEO Robert FX Sillerman. The deal would value the dance and electronic music giant at nearly $490 million after Sillerman raised his per share offer. According to a press release, Sillerman will purchase all remaining outstanding stock he did already own, 62.6 percent, at $5.25 per share.

  • SFX 2015 Q1 Revenue Soars Despite Rock In Rio Las Vegas Losses

    SFX has recently had a tough go of it financially. The dance music giant's stock price has fallen from its initial IPO of $13.00 to where it currently sits at $4.43. Things are starting to look a little better after the company spent the end of 2014 and beginning of 2015 tightening its belt, halting major acquisitions and reshuffling staff. Today, the company reported its 2015 quarter one financial results. Revenue for the first three months, ending on March 31, grew 56.6 percent to $52.2. million, with live revenue accounting for 77 percent of total revenue at $40.2 million. This was done despite expected losses from the start-up costs incurred by Rock In Rio Las Vegas, which adds up to approximately $4 or $5 million.

  • ID&T Founder Duncan Stutterheim Steps Down

    Duncan Stutterheim, the co-founder of major dance music promoter ID&T -- which is responsible for festivals like Tomorrowland, Mysteryland, TomorrowWorld and Sensation -- is stepping down after 23 years at the helm. He took the firm from a small event company in his native land of the Netherlands to one of the major players of the festival marketplace, regardless of genre, over his time as head honcho. He explained his decision to step down in an interview with Dutch newspaper 'Volkskrant' and why he felt out of place in the modern dance music climate.

  • SFX Reveals Fan-Study Findings WIth 'Audience Insights Group'

    Dance music conglomerate SFX Entertainment has announced the findings of its new study The Electronic Music, Technology and Youth Culture Study, put together by the Audience Insights group. The directive of the group is to study EDM fans and understand their attitudes, interests and behaviors at live events and beyond, while giving marketers a better awareness of how to connect with them.

  • Bestival Coming to Toronto in '15

    Bestival has made it official: The U.K. festival will be coming to North America in 2015. The festival, founded by Rob da Bank, will be headed to Toronto June 12 to 13, 2015, according to the "New York Times."
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