Christian P. Pewitt Blogs

Tuesday, January 2, 2018

Creditors Demand Bankruptcy For Robert F.X. Sillerman

Robert F.X. Sillerman, the founder of what was once SFX Entertainment, is being petitioned to declare bankruptcy by two Chicago-based promoters. Jeffery Callahan and Lucas King of React Presents and Clubtix filed an involuntary Chapter 7 bankruptcy petition against Sillerman in U.S. Bankruptcy Court Dec. 27, according to Reuters.

Sillerman, the roll-up king who acquired a disparate crew of promotion companies in the ’90s, turning it into SFX, which became Clear Channel Entertainment, which became Live Nation, was most recently the chief of another version of SFX Entertainment, this time to rollup various EDM festivals. That effort faded but reemerged as LiveStyle, headed by former AEG Entertainment chief Randy Phillips.

Meanwhile, the promoters, who were acquired by Sillerman in 2014, are seeking a judgement they recently won against Sillerman over a promissory note he guaranteed on behalf of SFX, Reuters said. Sillerman filed for bankruptcy in February 2016, and King and Callahan, and their two companies, sued Sillerman in Chicago federal court a month later to collect on the promissory note, according to Reuters.

The filing comes on the heels of Sillerman and his wife’s legal spat with ESFX Holdings, which asked a New York state judge to permit the forced sale of a property owned by the couple to satisfy a $14.6 million resolution.

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Rolling Stone’s Jann Wenner Accused Of Sexual Assault

Facebook, YouTube Music Deals and Other Music Business Stories You Missed Over The Holiday Break

The news never stops, even for the holidays. On the contrary, dealmaking often accelerates as companies rush to complete acquisitions and mergers, or just hope to end the year on a high note with a launch or announcement.

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To help you catch up quickly, here are 9 essential music industry stories that happened over the holiday break.

Universal Music Group Signs "Unprecedented" Global Licensing Deal With Facebook, Instagram, Oculus

Sony, Universal Strike New Global Licensing Deals With YouTube

Maroon 5 Manager Jordan Feldstein, Brother Of Jonah Hill, Dies At 40

Bandcamp Shares Impressive and Strange 2017 Stats

"Massive Victory" For Songwriters, Publishers As Court Allows Fractional Licensing

Songwriter's Guild Sounds Alarm Over "Serious Problems" In Music Modernization Act 2017

Billboard Shifts Magazine, Chart Dates To Reflect The Actual Release Week

Mixcloud Partners With Nielsen's Gracenote To ID Music In Tracks, Mixes

Music Industry Lawsuits And Issues To Watch In 2018

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FHA loan limits are increasing: that’s good news for borrowers

FHA loan limits increased in many areas for 2018, making FHA mortgages accessible to mpre borrowers.

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Mortgage search engine paves clear path to home buying

Finding the right home buying partners is now easier than ever, thanks to a brand new mortgage-specific search engine. Dubbed Vendor Surf, the tool lets buyers find companies in 75 different categories to help with their home purchase and mortgage process.

from Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports http://ift.tt/2lHZ0l3

AM BRIEF: Musicians Debate Spotify Payouts • Wall St. Cools On Entertainment • Ringo Starr, Barry Gibb Knighted • More

TUESDAY 1.2.18

Music Business News From Around The Web

Updated continuously under our More News tab

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Monday, January 1, 2018

Happy 2018 From Hypebot!

As you recover from the aftermath of New Year's Eve and the holiday spirit(s), we wanted wish you a wonderful year ahead; and thank-you for letting us be your daily guide to this ever-changing music industry.

There are unending challenges ahead, but the digitization and democratization of this formerly closed club means new opportunities for artists and entrepreneurs are everywhere. Onward to 2018!

Bruce Houghton, Owen Davies and the Hypebot team

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