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SFX Agrees To Acquire Beatport
"Beatport is a tremendous brand in dance music and has the purest DNA of any business in the electronic dance music arena" The agreement follows recent announcements from SFX of its acquisitions of dance music promoters, festivals, events and nightclub businesses. Beatport is SFX's first digital acquisition. "Beatport is a tremendous brand in dance music and has the purest DNA of any business in the electronic dance music arena," said Robert F.X. Sillerman, Chairman and CEO of SFX. "The relationships they have built with labels, DJs and fans around the world validates to us the strength of their management team. We want to help Beatport grow and introduce the brand to an even broader audience, leading to an overall growth in digital dance music downloads, mixes, videos and beyond." Matthew Adell, CEO, of Beatport commented, "Becoming part of the SFX family is a unique strategic opportunity for Beatport. Having access to greater resources will allow us to expedite the development of new music features for DJs and fans and extend our news, DJ profiles and media programs across the web and mobile. These developments will not only help us promote DJ brands worldwide, but will also increase revenues to our record label partners and artists." SFX previously acquired electronic dance music leaders Disco Donnie Presents and Life in Color, and formed a joint venture with international festival owner and promoter ID&T to present events such as Sensation in North America. SFX also recently announced the acquisition of promoter Huka Entertainment and the Miami Marketing Group, which operates LIV at the Fontainebleau Hotel and the newly opened Story in Miami Beach.
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