The behemoth that is SFX is growing again, announcing yesterday that they have entered into an agreement to purchase the Chicago based promotion company React Presents, most notably known for Spring Awakening Music Festival and Summer Set Music & Camping Festival. This news comes a couple weeks after SFX officially bought a 50% stake in Rock in Rio and made headlines over a dispute with Electric Forest. Rober Sillerman, CEO, said in a press release:
“React Presents enhances the nationwide network of promoters for SFX and brings two new and highly successful festivals into our U.S. repertoire, which already includes TomorrowWorld, Mysteryland, Sensation, Electric Zoo, Disco Donnie Presents and Life in Color, and is further bolstered by a newly formed marketing and content partnership with Clear Channel Media and Entertainment… React Presents is a dominant player in the Midwest, so it was strategically important for us to join forces. React’s ability to put together and promote so many quality productions that excite so many fans will greatly add to our success and growth.”
While Jeff Callahan, co-founder of React Presents had this to say:
“After years of being Independent Festival / Concert Promoters in the Midwest, we are very exited to join the SFX family. We feel this strategic partnership with SFX Entertainment and its team of like-minded pioneers will make for a massive global company,”
SFX will also acquire Clubtix, an online ticket distributor and West Loop Management, a Chicago based venue management company, as part of the agreement.