It’s less than two years since the IPO of EDM firm SFX Entertainment, but it is now moving back towards being a private company once again. Chairman and CEO Robert Sillerman has made an offer to buy the 62.6% of shares in SFX that he doesn’t already own, offering $5.25 per share.
Billboard notes that the move will enable SFX to continue its search for profitability out of the glare of public, quarterly financial results. It also means we’ll have less insight into the financial performance of the company’s Beatport subsidiary, which is set to be the lynchpin of SFX’s EDM community in the future.
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Tools: Kaiber
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