Clear Channel And Sfx Strike Electronic Dance Music Marketing Deal

Sillermans recently created public companyan amalgam of electronic-dance-music promoters and related firms also called SFX Entertainment, Inc.entered a marketing partnership with Clear Channel on a handful of initiatives. Those include live dance-music events around the country this coming Halloween, a talent-search contest for DJs that will air on Clear Channel stations nationwide, and a weekly countdown show based on the top 20 tracks on Beatport, the online electronic music store now owned by SFX. Visited by 40 million professional and amateur DJs a year, Beatport was acquired last year by SFX for $50 million, following a string of other acquisitions including event promoters Donnie Disco Presents and ID&T. Mr. Sillerman took SFX public in October. Since then, shares of more info SFX have fallen about 8%, as of Fridays close. The current deal is of course far more limited in scope than the earlier Clear Channel-SFX transaction, whose effects are felt throughout the music industry to this day. Several years after buying SFX, Clear Channel spun off its live-entertainment division in 2005, and that offshoot merged with Ticketmaster in 2009 to form the live-event behemoth Live Nation Entertainment Inc. Live Nation is now positioning itself as a rival in electronic dance music, having bought a 50% stake of another major promotion company, Insomniac, last year.
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