SFX Entertainment sets bid procedures for Fame House, Beatport sales

By Caroline Salls

Pittsburgh, Feb. 29 – SFX Entertainment, Inc. requested court approval of the bid procedures for the proposed sales of substantially all of the assets of its Fame House business and of debtor Beatport, LLC, according to motions filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

SFX said it has not yet selected a stalking horse bidder for the Beatport or Fame House assets.

Bids for the Fame House assets are due by noon ET on March 28, and bids for the Beatport assets are due by noon ET on April 28.

If necessary, an auction for the Fame House assets would be held on March 31, and an auction for the Beatport assets would be held on May 3.

Bids at the auctions must be made in minimum increments of $250,000.

A hearing on the bid procedures motions is scheduled for March 21.

SFX, a New York-based producer of live events and entertainment content, filed bankruptcy on Feb. 1. The Chapter 11 case number is 16-10238.

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