SFX granted $15m to pay artist advances
EDM promoter SFX Entertainment has been granted $15 million to pay artist advances for its summer festivals. Judge Mary Walrath, who is handling the company’s bankruptcy proceedings, made the ruling following months of negotiating between SFX's bankruptcy DIP Lenders and booking agencies, WME, Paradigm Talent Agency, Windish and AM Only. The new deal allows SFX to pay out headliners 25% before the lineup is announced, another 50% 30 days before the event and then ...
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