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EDM tycoon Robert Sillerman dies, aged 71

The SFX Entertainment founder died of respiratory illness on Sunday

EDM mogul Robert Sillerman has died, aged 71. 

The SFX Entertainment founder died on Sunday (24th November) of respiratory illness, Billboard has confirmed. 

The New York-born business tycoon and EDM mogul established himself in media throughout the ‘70s and ‘80s, before launching SFX Entertainment in 1997. 

In 2000, he sold SFX to Clear Channel 2000 for $4.4 billion, who transformed it into concert giant, Live Nation. SFX was relaunched by  Sillerman in 2012 as an EDM promotion company, buying up numerous electronic music companies in the process, including Beatport, Tomorrowland and Mysteryland. In 2016 the company filed for bankruptcy and Sillerman stepped down as CEO in the midst of numerous lawsuits.