In their latest EDM-related pursuit, SFX Entertainment has announced an acquisition of Made Event, the production company responsible for Electric Zoo Festival, as well as many other events in the New York area.
While previously announced as a 70% acquisition (with the other 30% in 2018), today’s press release stated that the deal would be a 100% purchase of Made Event. SFX chairman and CEO Robert F.X. Sillerman discussed their plans for Made Event.
The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region. Co-founders Mike Bindra and Laura De Palma are the ultimate industry professionals, and our management team will benefit greatly from their years of experience. We plan to develop the Electric Zoo brand internationally and have the opportunity to build other SFX brands in the U.S. with the support of Mike, Laura and the team at Made.
While SFX shares have been losing value since going public in October, Made Event will join ID&T, Beatport, and many other EDM-related powerhouses that have been acquired by the multi-national company.