SFX continues global expansion, acquires 50% of Rock In Rio
A week after announcing its purchase of German promoter i-Motion for $21 million, SFX expanded its empire with a 50% purchase of Roberto Medina’s Rock In Rio. The festival is best known for rock music in Rio de Janiero bringing in talent such as Beyonce, Justin Timberlake, Bruce Springsteen, and David Guetta. Although, no official dollar amount has been disclosed, SFX Entertainment has entered into an option agreement in a newly formed company that will own all assets and operations of Rock In Rio. This partnership will allow Rock In Rio to take place in the United States in 2015. In a recent interview with Billboard, when Robert Sillerman was asked if SFX was back in full acquisition mode he answered with “save space because we’re just getting started.”
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