Vivendi buys Flavorus from SFX

Vivendi Ticketing, the Delaware-based subsidiary of French mass media conglomerate Vivendi that owns See Group (See Tickets UK and US) and Digitick, has agreed to acquire Flavorus from SFX Entertainment for US$4 million.

Vivendi, also the parent company of Universal Music Group (which bought marketing agency Fame House from SFX last month), won an auction held at the New York offices of law firm Greenberg Traurig on 2 and 3 June. It offered $4m in cash, minus the ‘estimated closing aggregate cure amount’, or debts owed by Flavorus, of which the largest are to SFX’s own festivals: $944,000 to Spring Awakening and $1.2m to Mysteryland. (The court document notes, however, that these debts are “expected to be $0 at the closing [of the sale] since [they] will occur after ticket proceeds…

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