Universal Music Group purchases Fame House from SFX

Universal Music Group, one of the big three major labels, has officially bought digital marketing company Fame House from SFX Entertainment for $1 million.

Fame House, based in Philadelphia, provides web and social media services to musicians including Eminem, Tiesto, Pretty Lights and Matisyahu, to name a few. The acquisition of the digital marketer came packaged with an additional $400,000 in debt and liabilities, which Universal agreed to shoulder.

According to Billboard, UMG was the only one of two total bidders that was established as qualified to take Fame House under its wing.

Fame House will continue running in Philadelphia, while CEO and founder Mike Fiebach and Chief Strategy and Marketing Officer Eric Hahn will maintain their current titles.

Via: Billboard

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