SFX IS WORTH LESS THAN 1/100TH OF RIVAL CORPORATION LIVE NATION | DJMagAdmin.com Skip to main content

SFX IS WORTH LESS THAN 1/100TH OF RIVAL CORPORATION LIVE NATION

SFX IS WORTH LESS THAN 1/100TH OF RIVAL CORPORATION LIVE NATION

Things go from bad to worse for the dance music giant 

SFX's market cap valuation is down to less than 1% of the worth of rival corporation Live Nation, Music Business Worldwide reported today. 

The market value of SFX — who famously own mega festival Tomorrowland and music purchasing platform Beatport — has fallen by half a billion dollars in just 12 months, hitting a new low of $112.3m ( that's $1.15 per share) last Tuesday.

By the time the markets closed on Friday, SFX’s share price had dropped by another staggering 7.96% to just $0.46 per share.

The rapid crash in SFX’s stock price is the result of owner Robert Sillerman's failed attempt to take the company private, missing the mid-August deadline to complete the process and sending the company into disarray.

If SFX's share price continues to fall, the company is at risk of dropping off the New York Stock Exchange completely or filling for bankruptcy. 

[Via Music Business Worldwide}

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