SFX Entertainment seeking buyer for Beatport
As the bankrupt promoter goes through a process of restructuring, it looks like download service Beatport will be the first subsidiary to go
News By | 1 March 2016
SFX Entertainment is auctioning off Beatport. According to a motion filed in the Delaware bankruptcy court yesterday by Kurtzman Carson Consultants, “given SFX’s current financial condition, SFX…
SFX Entertainment is auctioning off Beatport.
According to a motion filed in the Delaware bankruptcy court yesterday by Kurtzman Carson Consultants, “given SFX’s current financial condition, SFX cannot afford to make additional investments in Beatport as may be needed in the future, and therefore has decided to sell the Beatport assets”.
EDM promoter SFX, which filed for bankruptcy on 1 February, bought the digital music store for roughly US$50 million in February 2013.
“Given its current financial condition, SFX cannot afford to make additional investments in Beatport as may be needed in the future and therefore has decided to…
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