At IMS Engage in Los Angeles, Pete Tong sat down with Shelly Finkel, the head of acquisitions for SFX Entertainment, to talk about SFX’s recent acquisitions and the company’s direction. After recently buying Beatport and ID&T (Tomorrowland, Sensation) SFX has truly become one of the most powerful companies in electronic music. One has to wonder how much money SFX still has and according to Shelly Finkel “There’s plenty of money left”. He then when on to hint at the possibility of buying Ministry of Sound saying “What’s Ministry of Sound doing?”.
An acquisition of Ministry of Sound would make all too much sense for SFX. They want established EDM companies that drive the pulse of the electronic music movement. Finkel told Tong at IMS that SFX recently purchased “a promoter in South America, the largest promoter in Germany, and probably the largest in Australia.” If they were to buy Ministry of Sound, SFX would come into control of many of the major promoters in the world, getting them closer to their goal of “creating the worldwide community of dance fans.” As always, we will be sure to keep you posted with any acquisitions or moves in the dance music community.
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