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SFX boss appoints advisors for share buy-back plan
By Chris Cooke | Published on Friday 27 March 2015
SFX Entertainment founder and boss man Robert FX Sillerman has announced the appointment of some almost certainly charming and not at all odious bankers to advise on his bid to take the EDM peddler back into private ownership.
As previously reported, Sillerman, who only floated his EDM festival maker and Beatport operator in 2013, announced last month that he wanted to buy back all the SFX shares he doesn’t currently control. With a mixed reception to the plan on Wall Street, the entertainment company set up a committee of independent directors to consider Sillerman’s proposals.
Besuited money monkeys from Barclays Capital and Jeffries LLC will now advise on the SFX founder’s buy-back bid, which also includes an offer to those shareholders which wish to remain involved that they could do so by having a stake in the newly private version of the company.
Elsewhere in SFX news, Beatport has launched an app for iOS and Android phones which will bring the EDM platform to mobiles, including the ability to stream charts, playlists and ‘hearted tracks’. So that’s a thing.
