SFX Entertainment Files for Chapter 11 Bankruptcy, Amazon Plans Streaming Platform, Club Golden Pudel To Be Foreclosed, and Ableton Live 9.6 Released With Link Technology.
SFX Files for Bankruptcy. New York-based EDM events conglomerate SFX Entertainment has filed for a bankruptcy, making a “debt-for-equity” swap with bondholders, which will take the company private and wipe $300 million in debt from its balance sheet. The deal will also see current CEO and Chairman Robert Sillerman replaced. Find out more here, and read an SFX statement here.
Amazon Plans Streaming Platform. E-commerce giant Amazon is preparing plans to create its own subscription-based music-streaming platform, which will compete with current market leaders Spotify and Apple Music to become the premier distributor of entertainment content from books to TV and movies to music, according to sources. Find out more here.
Club Golden Pudel To Be Foreclosed. Hamburg‘s legendary club Golden Pudel will be forced to auction in April, as a result of financial disputes between its owners, who each own a floor of the building. The contract for the club space won’t run out for another 12 years though, so there’s hope it will stay open, and a group called “the freaks are alright” have already begun campaigning against potential buyers. Find out more here.
Live 9.6 Released With Link. Ableton has released the latest update of Live, with version 9.6 introducing Link, a technology which keeps devices in sync when connected to the same network, as well as a list of other improvements, feature changes, changes for Push, and bug fixes. Find the full list here.
Groovefest Malta Announced. 2016 sees Groovefest Festival, a brand new event, come to Europe across various locations on the Mediterranean island of Malta, 29th April – 2nd May. Line-up includes Kerri Chandler, Apollonia, Kolsch, MK, Hot Since 82, Detroit Swindle, Mathias Tanzmann, Sam Divine, and Guti (live). Check it out here.