Who owns sfx

SFX has rebranded itself with a new name and a new CEO, following the company's bankruptcy scandal earlier this year. Phillips, who formerly led fellow festival production company AEG Live, told Billboard, "Every time I said the name 'SFX' to someone, I got this negative reaction—people would make the sign of the cross. Phillips is enacting some pretty serious changes in the hopes of making the new company profitable again, including a move away from the EDM genre, and the streamlining of some of Beatport's current services.

Its bankruptcy had been attributed to widespread accounting fraud. A deal with American Express to become SFX's official card also was signed, one of a string of relationships with corporate sponsors such as Levi's, VH1, and Ford that the company had negotiated. One of SFX's goals was to increase the amount of national advertising at each venue it controlled, with the company now running commercials on giant video screens before some performances.

In the face of SFX's increasingly firm grip on the market, 11 of its competitors formed the Independent Promoters Organization IPO to collectively bid for the services of major acts. Members of IPO would include number two U. The company produced successful tours of its own, however, including those of 'N Sync, Cher, and the Backstreet Boys.

The British company produced concerts, wrestling, and motorsport events and had sizable real estate holdings. The company also was building its sports business.

The company also was concentrating on building its own brand identity, and over the next few months began to add the initials SFX to the names of its subsidiaries. The company also formed a joint venture in Europe with World Online to create a music, sports, and theater Internet portal. Early March saw the predictions of some of Sillerman's detractors come true when it was announced that SFX would be sold to radio giant Clear Channel Communications of Texas.

Clear Channel owned radio stations and 19 television stations in the United States, as well as , outdoor advertising displays. SFX now owned or operated entertainment venues in 31 markets, offered touring Broadway shows in 55, and was the largest promoter of monster truck shows in the country. SFX Sports represented athletes and sports broadcasters. While the deal was being finalized, SFX continued its buying spree, picking up Electric Factory Concerts of Philadelphia and Jujamcyn Productions of Minneapolis, a touring theatrical production company.

Shortly thereafter, Canada's second largest concert promoter, Core Audience Entertainment, was acquired. The changes its frenetic buying activity had wrought in the marketplace were still being assessed, however, and SFX was still developing its own identity as a company rather than as merely the sum of many parts.

Acquisition by the nation's largest radio conglomerate would create further opportunities for expansion and new marketing synergies, but it would take time before the full impact of this relationship became known.

The company also owns directly, or through its subsidiaries, several hundred other companies in the United States and Europe. Principal Competitors: Feld Entertainment, Inc. Toggle navigation.

User Contributions:. Comment about this article, ask questions, or add new information about this topic: Name:. E-mail: Show my email publicly. Human Verification:. The restructured company, still the largest producer of electronic music festivals even after selling off a few assets, has been rebranded as LiveStyle. Founded by Robert F.

Phillips originally signed on simply to help guide the company through the bankruptcy process, then decided to take the top job after the company agreed to relocate its corporate headquarters from New York to Los Angeles. Phillips plans to slightly shift the focus of the company; instead of an electronic music company -- Phillips shuns the term "EDM" -- "we're going to be a music company that specializes in electronic music," he says. LiveStyle will also continue to run the digital marketplace Beatport, which Phillips says is now profitable after it discontinued its streaming service to return to its former focus on selling high-fidelity downloads of electronic music for DJs and hardcore dance fans.

Although the promoters that LiveStyle owns will continue to operate with a degree of independence, Phillips says the company will go forward with a more integrated model, trimming redundant costs for services like accounting.

LiveStyle is now owned by a range of investors; 70 percent of it is owned by Axar Capital and an investment arm of the German insurance giant Allianz. Although SFX had tried to sell some of its assets during bankruptcy, Phillips plans to keep the company intact for now.