LiveStyle
| Private | |
| Industry | Concert promoter, music |
| Predecessor | Live Nation (de facto) |
| Founded | June 2012 |
| Founder | Robert F. X. Sillerman |
| Headquarters | New York City, United States |
|
Key people
|
Randy Phillips, president and CEO |
| Website | sfxii |
LiveStyle is a Los Angeles-based live events conglomerate founded by media entrepreneur Robert F. X. Sillerman. The company was formed in June 2012 as SFX Entertainment—the new incarnation of Sillerman's previous company of the same name, which was sold to Clear Channel Communications and later spun-off in 2005 as Live Nation.
The company focuses primarily on live events and other properties relating to electronic music and its associated culture. Its holdings include ownership of various major electronic music promoters and festival brands, such as Tomorrowland, Electric Zoo, and a 50% stake in Rock in Rio among others. The company also owns Beatport, an online electronic music store, and Paylogic, a provider of online ticketing services.
Growing primarily through the acquisitions of various electronic dance music properties, SFX went public on the NASDAQ on October 9, 2013. However, in 2015, the company began to experience financial issues; in August 2015, the company's stock value fell as low as 91 cents. After a failed bid by Sillerman to buy out or sell the company, and a breached preferred investment, SFX filed for chapter 11 bankruptcy protection in February 2016, and Sillerman stepped down as CEO. In December 2016, the company emerged from bankruptcy as a private company, re-named LiveStyle, and with former AEG Live executive Randy Phillips as a new CEO and Charles Ciongoli, formerly of the Universal Music Group as Executive VP & CFO.
SFX Entertainment was formed by Robert F. X. Sillerman in the 1990s. Its business model surrounded the acquisition and consolidation of regional concert promoters into a single national entity. In 2000, Sillerman sold the company to the radio broadcasting company Clear Channel Communications for $4.4 billion USD. Clear Channel Entertainment was spun off in 2005 to form Live Nation, and merged with Ticketmaster in 2009 to form Live Nation Entertainment. As of 2012, Live Nation is the largest concert promoter in the world.
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