If you have been keeping up with the electronic music arms race you have more likely than not heard of SFX Entertainment. The investment group, headed up by Robert Sillerman, now owns ID&T (Tomorrowland, Mysteryland, Sensation), Life in Color, and many other notable electronic music establishments. SFX Entertainment has now filed for up to $175 million in IPO (initial public offering). This means that the public will be able to contribute to SFX’s already bulging investment fund.
Be looking for some moves from SFX Entertainment in the coming months. Head of acquisitions at SFX, Shelly Finkel, hinted a little while ago that they had a deal in the works with a major Australian promoter along with a few other major international promoters. He also indicated that they might be interested in going after Ministry of Sound. With an additional $175 million under their belt the possibilities are endless for SFX Entertainment.
via: Reuters
This will be amazing!
On second thought, this sounds like the beginning of an EDM Monopoly. Monopolies are very bad. For more info, go to http://www.facebook.com/loveonhigh