Beatport’s auction gets pushed back
Beatport fell victim to SFX’s highly publicized demise along with several other key dance music staples the conglomerate had acquired over its years of existence. The online electronic music store was purchased in 2013, already reaching a particularly low point in 2015 when the company reported $7.5 million in losses. It was only inevitable that Beatport found itself on the auction block shortly after SFX announced its bankruptcy proceedings.
The pending auction had originally been set for May 3 with a winner to be announced on May 5, but a statement issued by Beatport the day prior revealed that a winner would not be chosen for another three weeks: “At the request of interested parties who require more time to finalize their bids, we have agreed to reschedule the Beatport sale hearing to the next available court date on May 26. A new auction date will be announced once determined,” said a spokesperson of the delay.