SFX secures $20m in new financing

Coral Williamson

SFX Entertainment has secured $20 million in new financing, for "itself and certain of its operating subsidiaries".

Limited additional details are available ahead of the company filing a Form 8-K, but the capital, "for its working and general corporate purposes", follows SFX's attempts to stay afloat amid falling revenues in the new year.

Back in December, the EDM promoter hired investment bank Moelis & Co to look at ways of cutting the company's debt, including potential sales of non-strategic assets.

So ...

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