Monday, 21 December 2015
Will Live Nation pick up SFX?
It seems SFX's money-lenders are hoping that Live Nation will acquire the flagging EDM powerhouse. The debt pile of around $300 million is now nearly ten times the market cap valuation of the company after it's share price collapsed and SFX recently confirmed it had asked its bankers to investigate a possible restructuring of its debts with talk that Cream founder James Barton - currently a Live Nation executive - was in talks to join the company. It is thought that Live Nation was among the companies to express an interest in SFX's assets when the latter's directors were accepting bids earlier this year although Reuters say Live Nation might just cehrry pick off SFX's most successful festival brands and buy them individually instead - although ab SFX buy would make it a dominant force in the dance music sector.