SFX Entertainment has just decided to drop their announcement regarding the acquisition of Made Event, the production company for Electric Zoo Festival, as well as many other events in the New York and Tri-State area.

The press release stated that the deal would be a 100% purchase of Made Event. SFX chairman and CEO Robert F.X. Sillerman discussed their plans for Made Event,

“The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region. Co-founders Mike Bindra and Laura De Palma are the ultimate industry professionals, and our management team will benefit greatly from their years of experience. We plan to develop the Electric Zoo brand internationally and have the opportunity to build other SFX brands in the U.S. with the support of Mike, Laura and the team at Made.”