SFX Entertainment, New York, a leading promoter, producer and venue operator for live entertainment events, said it acquired five companies in the sports and entertainment field for a total of $227 million. The most noteworthy acquisition is Falk Associates Management Enterprises, Washington, a sports representation and marketing firm founded by David Falk, whose most famous client is Michael Jordan. That purchase cost SFX $100 million. The other four companies are Blackstone Entertainment, Boston ($80 million); Avalon Attractions, Los Angeles ($27 million); The Oakdale Theater, Wallingford, Conn. ($12 million); and Event Merchandising, whose 80% stake cost SFX $8 million. The latter four deals further bolster SFX's plan to create an unwired network of venues for corporate sponsors. Also, SFX is in talks to purchase Marquee Group, a New York-based consortium of sports marketing agencies. Robert F.X. Sillerman, chairman of SFX and Marquee, owns 9% of Marquee's outstanding common stock.
Copyright May 1998, Crain Communications Inc.