Categories: Music

SFX looking into restructuring debt to save itself

Electronic music festival organizer SFX Entertainment Inc (SFXE.O), which puts on days-long dance extravaganzas including New York’s ‘Electric Zoo’, is exploring a debt restructuring, a spokesman for its chief executive told Reuters on Monday.

SFX has asked investment bank Moelis & Co (MC.N) to propose ways of slashing the company’s debt pile….

It is correct that the company hired Moelis to examine broadly its position. That principally includes sales of non-strategic assets as well as examining the capital structure of the company,” a spokesman for SFX CEO Robert F.X. Sillerman said….

SFX, with about $300 million in debt, has a market capitalization of just $30 million and its debt trades at distressed levels…..

Read More At: Exclusive: Music festival company SFX explores debt restructuring

Greg Wasik

EDM Life was founded by Greg Wasik, who also founded of internet marketing company InterG Media. Snapchat: EDMLifeOfficial

Share
Published by
Greg Wasik

Recent Posts

Framework in the Desert returns in 2024 with Charlotte de Witte, Dom Dolla, John Summit and more!

In what has become an annual institution during both weekends of Coachella, LA_based Framework has announced…

3 days ago

Tiesto and Illenium to play Waterfront Park in San Diego

Just announced by Horizon and Insomniac is a 2-day show in downtown San Diego on…

1 week ago

Relive Ultra 2024’s livesets!

Below are the livesets recorded at this past weekend's Ultra Music Festival 2024 in Miami.…

2 weeks ago

Diplo’s Run Club tickets on sale now

Tickets went on sale today for Diplo's brand new Diplo's Run Club for Seattle and…

2 weeks ago

Amnesia Ibiza partners with Soho Garden Dubai to bring Ibiza to Dubai

The owner of one of the most famous clubs in Ibiza, Amnesia, has partnered with…

2 weeks ago

Lightning in a Bottle 2024: A Transformative Journey into Music and Art  

As summer starts at Buena Vista Lake in California, the annual Lightning in a Bottle…

3 weeks ago