SFX Entertainment Buy Beatport

Media executive Robert F.X. Sillerman and his company SFX Entertainment continued to expand their footprint in the electronic dance music (EDM) world with the purchase of the popular site Beatport this week. Beatport, one of the most popular sites for EDM downloads and a pioneer in the digital revolution among DJ's, boasts over 1 million tracks and almost 40 million users. SFX is a company focused primarily on live events, and has recently ventured into the nightclub and festival space. While no official number on the deal was released, several anonymous sources close to the deal have said that it was for little over a $50 million.