It is known that things aren’t going well with SFX entertainment, the parent company behind many big events such as Mysteryland, Tomorrowland, Awakenings, Sensation and Decibel outdoor. Until recently it was not clear what the future of the company would bring, but the company has shown that it is ready for a new start with a new CEO called Randy Philips. Philips kept quite some important companies like b2s, Q-dance en Paylogic out of trouble this way. The change of name won’t affect the other companies says the new CEO. “We have no plans to sell anything.”
Randy Philips is no stranger. He was the former CEO of AEG Live, a company which focuses on the music industry like festivals and promoting world tours of artists such as Justin Timberlake, Bon Jovi & Justin Bieber. Next to that, he was responsible for the comeback tour of Michael Jackson. Philips wants to slightly change the focus of the company and shuns the word EDM. “We’re going to be a music company that specializes in electronic music.”
SFX Entertainment filed for bankruptcy earlier this year, because the company faced heavy financial loses in the first six months of 2015. The company was able to be preserved by turning in the stocks. The company kept the option for a restart open while filing for bankruptcy.
Source: LiveStyle.com
