Published
Tue, Jun 7, 2016, 13:50
- Vivendi Ticketing US LLC came in with the highest bid at a recent auction.
Bankrupt dance music company SFX Entertainment is on the verge of selling its ticketing service, Flavorus, for $4 million.
The auction took place across June 2nd and 3rd. Vivendi Ticketing US LLC ended up with the highest bid. Their $4 million offer was $13.1 million less than what SFX paid for Flavorus in 2014. As The Wall Street Journal reports, the offer will be considered by a bankruptcy judge, with a decision due on June 8th.
SFX filed for bankruptcy back in February. That decision has led to a company restructure that will see 50 New York-based employees lose their jobs in July. The company is also in the process of selling one of its key assets, Beatport, though an auction planned for May was suspended.