Universal Music Group Purchases Fame House from SFX

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Finally the pieces of SFX‘s hulking corpse are beginning to be auctioned off. After Beatport drew attention for being pulled off the auction block, Fame House has been sold to Universal Music Group. Fame House is a digital marketing agency that offers digital as well as social media marketing for artists like Tiesto and Pretty Lights.

The sale price was reportedly $1 million and UMG is also assuming $400,000 in debts and liabilities. Fame House was never part of SFX’s core business, so its no surprise to see it sold off. Most people reading this probably aren’t even aware of what Fame House is. The weight on SFX’s financial shoulders just got a little bit lighter. We all just want to know who will buy ID&T and what will happen with that ALDA Events hostile maneuver.

Source: Billboard