BREAKING: SFX Entertainment Buys Beatport

Bob Sillerman, the man who is famously prepared to make a $1 billion investment in the electronic dance music scene with his company SFX Entertainment, has just agreed to buy Beatport. There has been no official word as to the price but sources indicate it to be slightly above the $50 million mark. Beatport has become to go-to site for electronic dance music purchases and has also evolved into one of the bigger sites for EDM news, remix contests, and more. “Beatport gives us direct contact with the D.J.’s and lets us see what’s popular and what’s not. Most important, it gives us a massive platform for everything related to E.D.M.” said Sillerman. This is the latest of multiple purchases by Sillerman’s company with others including Disco Donnie Presents, Life in Color, and ID&T, who run events such as Sensation and Tomorrowland. It appears that all of the rumors circulating around earlier this year were indeed true. Be sure to follow us on Facebook and Twitter for more information as it becomes available.

via The New York Times