For the last two years, one of the most arresting stories in the concert business has been the decline of SFX Entertainment, which tried to build a global network of dance-music festivals but collapsed and went bankrupt, the New York Times DealBook reported yesterday. SFX emerged from bankruptcy protection last week, with its debt load reduced by about $400 million, and this week it announced a new name and leadership. The new company, LiveStyle, will be led by Randy Phillips, the former chief executive of the concert company AEG Live, and there will be a commitment to something akin to its original mission of being “the world’s largest electronic music event producer,” according to the announcement, though it offered few other details. According to its statement, LiveStyle will be based in Los Angeles and retain control of some of SFX’s flagship properties, including the Tomorrowland and Electric Zoo festivals, as well as the online music store Beatport and the ticketing service Paylogic.
