SFX ENTERTAINMENT ACQUIRES MADE EVENT, CREATORS OF ELECTRIC ZOO FESTIVAL

NEW YORK – (November 4, 2013) – SFX Entertainment, Inc. (NASDAQ: SFXE), the world’s largest producer of live events and entertainment content focused primarily on electronic music culture (EMC), announced today that it has acquired Made Event, the premiere electronic music production company and creators of the Electric Zoo Festival.

“The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region,” said SFX Chairman and CEO Robert F.X. Sillerman.  “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.”  SFX acquired all of Made in the transaction, after previously agreeing to acquire 70% of the company.

Bindra and De Palma bring more than 20 years of experience in the promotion, production, and execution of electronic dance events to SFX. Made Event has been behind some of the largest and most iconic events in the industry, presenting world-class talent with the highest standards in state-of-the-art sound and visual production.

The Electric Zoo Festival is New York City’s largest dance music festival, with more than 100,000 attendees. Established in 2009, it takes place over Labor Day weekend on Randall’s Island and features the top names in electronic music, bringing a wide variety of acts from around the world and across the spectrum of electronic music’s various sub-genres.

Made also presents many events throughout the year, such as the Governor’s Beach Club concert series in New York, Armin van Buuren’s ASOT 600 at Madison Square Garden, and recent sold-out shows by Hardwell and Benny Benassi.  It is also a regular contributor to New York-based art and culture charities.

“After years of independence, we couldn’t be happier about our venture with SFX,” said Bindra. “To date, SFX has brought together the top companies and individuals in the electronic dance music industry.”

De Palma added, “The SFX team of industry leaders will provide a network of opportunities, allowing us to expand our vision of presenting the highest caliber, fan-focused electronic music events in exciting and innovative environments around the globe.”

SFX’s stock began trading on The NASDAQ Global Select Market on October 9, and the company will file its third quarter 10-Q report on November 22.

 

Credit : GrooveFox Radio