SFX's Beatport Auction Has Been Delayed

Investors now have an extra month to bid on Beatport
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Investors now have an extra month to bid on Beatport
Beatport

Beatport

Back in March, it was announced that SFX would be auctioning off Beatport due their recent bankruptcy filing and not being able to invest in the company moving forward. 

The final day for bids to be submitted was supposed to be April 28th, with the auction taking place on May 3rd. Now the auction has been delayed due to prospected investors needing more time to finalize their bids.

Beatport told Billboard of the situation via a statement:

"At the request of interested parties who require more time to finalize their bids, we have agreed to reschedule the Beatport sale hearing to the next available court date on May 26. A new auction date will be announced once determined."

Whether this is good or bad news remains to be seen. Here is everything we know about the auction so far.

In other news, the SFX bankruptcy judge allocated $15 million to pay artist booking fees for the company's upcoming festivals.

We'll have more information on this developing story as it surfaces.