Beatport's Auction Date Has Been Postponed

In early March, it was revealed that SFX could no longer afford to invest in its previously purchased online music store, forcing Beatport to be put up for auction.

Originally, the auction was slated to occur on May 3 with bids being due by April 28. However, due to requests from parties interested in purchasing the platform, Beatport's date to announce its auction winner has been delayed and will instead be determined on May 26.

A Beatport statement explained: "At the request of interested parties who require more time to finalize their bids, we have agreed to reschedule the Beatport sale hearing to the next available court date on May 26."

According to an earlier court filing, SFX had talked with 24 parties that expressed interest, with 18 signing non-disclosure agreements and performing due diligence.

Author

Valerie Lee

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