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Universal buys digital marketing agency from SFX

By | Published on Tuesday 31 May 2016

SFX Entertainment

A successful sale of an SFX asset – hurrah! Universal Music has bought one of the flagging EDM firm’s marketing agencies, the digitally-focused FameHouse which has worked on web-tastic initiatives for the likes of Eminem and Tiësto.

FameHouse was one of a number of marketing and branding agencies bought by SFX during its rampant acquisition spree back in the day. As previously reported, as part of its high profile bankruptcy SFX is now trying to sell off assets that are not part of its core festival business, though a sale of download store Beatport was put on hold, while a creditor last week kicked off about plans to sell ticketing set-up Flavorus.

But the FameHouse deal is seemingly going through pretty smoothly, with Universal paying $1 million, and taking on an additional $400,000 in liabilities, to acquire the business, according to paperwork filed with the US bankruptcy courts. The mega-major says that FameHouse will continue to be run by its founder Mike Fiebach and Chief Strategy Officer Eric Hahn, with CFO Boyd Muir overseeing the business from Universal’s side.