AEG Live Makes Bid On SFX Entertainment and Gets Rejected

The "new" SFX Entertainment has allegedly been planning to announce its new leadership during ADE
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The "new" SFX Entertainment has allegedly been planning to announce its new leadership during ADE
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It's been relatively quiet in SFX Entertainment's camp as of late, but an interesting piece of news regarding the bankrupt conglomerate has surfaced from the Dutch press. According to anonymous sources who reached out to Dutch magazine Quote, American promoter AEG Live submitted a bid to purchase the company that was rejected by its board of directors.

SFX Entertainment had declared chapter 11 bankruptcy in February of this year after the severe mismanagement of the numerous assets it had acquired during what Billboard dubbed "the EDM Arms Race" forced it to undergo restructuring. According to the source, SFX has been getting ready to announce its newly appointed Dutch leadership during Amsterdam Dance Event (ADE), so the offer made by AEG Live has been swiftly denied.

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It bears mention that the appointment of former AEG Live CEO Randy Phillips for the same position on SFX's board is still pending court approval. It almost appears as though AEG and the Dutch executives are going head to head for ownership of the "new" SFX entertainment - and at this point, the Dutch appear to be winning.

However, until the bankruptcy court filings reflect one way or another, the future of SFX is still anybody's guess. Until public statements or official documents find their way to the masses, anything that circulates from these dealings is little more than conjecture.