Powerhouse multimedia conglomerate Vivendi, which owns Universal Music Group among other assets, has just reportedly purchased another one of SFX’s assets for $4 million.
The asset in question is Flavorus, a ticketing company based out of Los Angeles, which had only joined SFX Entertainment two years ago. Court documents in April showed Flavorus to be the next asset of SFX’s on the auction block. Flavorus will be Vivendi’s second ticketing company alongside the British company See Tickets, which recently crossed the Atlantic to set up shop in LA in late 2014.
As of now, the deal has yet to be finalized pending clearance from a bankruptcy judge whom SFX will petition next week due to SFX’s restructuring deal. The deal is expected to go through.
H/T: Amp The Mag