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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:13 EDTSFXESFX Entertainment says Rscoff to step aside from COO position
SFX Entertainment announced the formation of a new executive management structure, which puts firm emphasis on the importance of the integration of media, creative, e-commerce and event assets across the globe. The company also announced that all ten incumbent directors have been reelected to serve an additional term by the stockholders of the company at the annual meeting held on June 5. Ritty van Straalen, COO, Timothy J. Crowhurst, President, Chris Stephenson, CMO, and Richard Rosenstein, CFO and CAO, will head up the newly formed executive management group reporting to Robert F.X. Sillerman, Chairman and CEO. In the revised structure, Joseph F. Rascoff will take on the role of Chairman of Live Entertainment as well as Vice Chairman of the Board of Directors, stepping aside from his position as COO. The new structure creates a five-territory global operations team, which will be helmed by new COO, Ritty van Straalen. The global divisions are: North America, South America, Australia, Asia and Europe. Timothy J. Crowhurst continues in his role as President. Chris Stephenson will continue in the role of Chief Marketing Officer. Richard Rosenstein adds to his role as EVP and CFO the title of Chief Administrative Officer.
News For SFXE From The Last 14 Days
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May 26, 2015
10:16 EDTSFXESFX Entertainment resumes, up 21% to $5 after agreeing to be acquired
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09:48 EDTSFXESFX Entertainment to be acquired for $5.25 per share in cash, or $774M
09:46 EDTSFXESFX Entertainment to be acquired by affiliate of Robert F.X. Sillerman
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09:45 EDTSFXESFX Entertainment to be acquired by affiliate of Robert F.X. Sillerman
09:31 EDTSFXESFX Entertainment trading halted, pending news
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May 12, 2015
06:39 EDTSFXESFX Entertainment cuts FY15 revenue to $500M from excess of $500M
FY15 revenue consensus of $493.7M. Cuts FY15 pro forma adjusted EBITDA to $55M-$65M from $60M-$70M. The adjustment to the revenue guidance is inclusive of the anticipated impact of foreign exchange as a significant portion of the Company’s operations occur internationally. The adjustment to the pro forma adjusted EBITDA expectation reflects the Company’s share of the expected losses related to the start-up costs for Rock in Rio Las Vegas, which is expected to be approximately $4M-$5M.
06:39 EDTSFXESFX Entertainment reports Q1 EPS (46c), consensus (33c)
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