SFX Entertainment are looking to bring in Cream co-founder James Barton, currently President of Electronic Music at Live Nation, to revive its flagging business.
According to the New York Post, Barton is close to concluding negotiations to join the firm in “a senior but undetermined position”.
The EDM executive joined Live Nation in 2012 selling his stake in Cream to the events company. Barton was listed as one of the top 50 most important people in EDM by Rolling Stone in 2014.
SFX has seen its share price tank in recent months after its founder Robert Sillerman failed twice to take the company back into private ownership.
Last week, the troubled events company confirmed that it had asked bankers Moelis & Co to review its debts, with an eye to restructuring them. SFX’s independent directors are reportedly mulling over selling off some of the company’s assets, which potentially include festivals, ticketing and marketing interests and digital retailer Beatport.
Barton’s arrival at SFX comes amid talk that investors have lost confidence with current CEO Sillerman.
[Via The New York Post]
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