Business News Deals Live Business

SFX sells Flavorus to Vivendi

By | Published on Tuesday 7 June 2016

SFX Entertainment

SFX is on a roll now. After some false starts, it has managed to offload a second asset, as the EDM firm continues in its attempt to climb its way out of bankruptcy.

True, it’s basically the same buyer as the first asset sale, in that Universal Music bought digital marketing agency FameHouse, and now Universal’s parent company Vivendi has bought ticketing business Flavorus. Perhaps Vivendi/Universal should have just bought the whole of SFX. After all, the problem with small scale ticketing companies is you sign up a bunch of festivals, and then Live Nation buys up those festivals and switches them to Ticketmaster.

Anyway, Vivendi, which has been quietly growing its ticketing business in recent years, has bought Flavorus for $4 million, and it will now sit alongside the entertainment conglom’s other ticketing companies, See Tickets and Digitick. The sale price is apparently minus any Flavorus debts still outstanding at the point the sale is completed. Although, according to IQ, court documents state that these debts are “expected to be $0”.

That may not be good news for cloud computing firm Salesforce, which attempted to block the sale of Flavorus last month until it could be assured that it would be paid over $300,000 in outstanding payments.