SFX En Route To Auction Off Beatport, Plans To Sell Fame House

SFX En Route To Auction Off Beatport, Plans To Sell Fame House

SFX Entertainment has been at the front-and-center of the electronic music industry for quite some time now. Giving all credits to their major financial breakdown, the entertainment behemoth’s demise has been quick to unfold. The conglomerate that filed for bankruptcy back in January has been quick to shed load off of their shoulders as they look to scrap major acquisitions with Beatport and Fame House next in line.

As reports suggest, the major online music store which has been one of SFX‘s prime assets is set to be auctioned in the coming months. With talks having already taken place with 24 companies who have expressed interest and are to lodge bids by April 28th, the auction is set to take place on May 3rd and will accept bids upwards $250,000.

Moreover, the troubled company has also revealed plans to sell off Fame House, which specializes in managing digital presence of artists and brands which now, the creditors don’t consider as a “core” to their business. Fame House was purchased back in 2013 as part of SFX’s mega shopping spree which includes a client roster consisting of names such as DJ Shadow, Eminem, Pretty Lights, Richie Hawtin, Josh Wink and more.

H/T: Billboard

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