Executives from Q-Dance, ID&T rumored to be key players in SFX restructuring
Though bankrupt EDM conglomerate SFX Entertainment‘s future is still up in the air, rumors have surfaced that Q-Dance founder Wouter Tavecchio will be involved in the company’s reformation. The embattled company is still in the throes of Chapter 11 restructuring, auctioning off big name sub companies like Beatport and Flavorus.
An anonymous tipster told Dutch publication Die Telegraaf that Tavecchio may be on his way in to the company where he will enter a leadership position in exchange for repurchasing SFX shares he’d previously sold. Bas Meijers ID&T and Rocco Veenboer of Netherlands’ Awakenings are reported to finalize similar agreements over the next few weeks. Those same sources indicated that SFX is posturing to be “a sort of ID&T-plus.”
Largely reviled SFX founder Robert Sillerman’s role in the company is also yet to be determined. Although Sillerman has since resigned as the company’s CEO, he still sits on the SFX board and recently maintained that the company will be a “robust and successful enterprise” post-restructuring.
H/T: Magnetic
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Categories: Music