robert sillerman daughter

Recognizing the environment she was raised in, I thought she was astounding. She also criticized the investors and analysts watching the company, saying they spent much of 2015 ignoring all indications that the Company was in a poor financial state and ignored key developments like a decision by Moodys to downgrade SFXs credit rating a development that under normal circumstances would be a significant red flag for investors. In the sale, SFX kept two small concert promoters, and renamed the company SFX Entertainment (concert promotion, sports agencies), turning SFX Entertainment into the world's largest producer, promoter and presenter of live entertainment. How big will CKX become? And I love it. [32], From 1993 Sillerman served as the Chancellor of the Southampton College of Long Island University, replacing Angier Biddle Duke. After selling SFX Entertainment, Mr. Sillerman pursued various entertainment projects. 19 is currently renegotiating the fee for next season, and some think the ante could be upped to $2 million per episode (though a reported flap over American Idol judge Simon Cowells compensation could be complicating matters). (Photo: Robin Marchant/Getty Images). Since then, revenues have grown but profits have vanished. (Photo: Robin Marchant/Getty Images). He set up what became his signature company, SFX, which he took public in 1993 at $15 a share. Nearly three years ago, Robert F.X. (Critics at the time complained that Sillerman overstepped his role by collecting fees for acting as both his companys financial advisor and investment banker during this period.) SFX CEO Entertainment Robert F.X. Powered and implemented by Interactive Data Managed Solutions. As his business world collapses around him, Sillerman seemed relatively relaxed over the phone. [37], In May 2012, Sillerman was accused of sexual harassment by an employee of Function X. Robert Francis Xavier Sillerman (April 12, 1948 November 24, 2019)[1] was an American businessman and media entrepreneur. Even when he was being sued in the end and was broke, hacking and wheezing with a hole in his throat and eating through a feeding tube, he was cracking blowjob jokes and talking about how he was going to f this guy and how this other guy was a scumbag.. More and more content can go directly to consumers through cellphones, devices like iPods, and home video, which makes content even more valuable. But doesnt Sillermans strategy fly in the face of what big media is doing right now? He was married to Laura Baudo. Think about it. The entrance is through original doors from the Paramount Theater. Which suggests that Sillerman is either very confident in his ability to create more value with these two companies, or believes he can sell them to someone who has even more confidence, or both. SFX grew into the nations seventh-largest chain and sold its 71 radio stations for $2.1 billion in 1998. To Sillerman the soft patch was an opportunity to reload. And there are a couple of Sillerman stories that involve nudity. Some of those companies listed werent done deals, Estopinal tells Billboard, adding that Sillerman misrepresented his financing and capitalization as he put SFX together. Almost immediately after Sillerman closed on the Elvis deal, he opened his wallet again and purchased 19 Entertainment, a business with even more moving parts than Elvis. unclear if newer events will have the same kind of draw. In 2011, he tried to replicate his past success by capitalizing on the dance music craze, consolidating the EDM business into what he hoped would be a Live Nation-style powerhouse. Though these unfortunate events have more to do with the young generation experimenting with different ways of altering their consciousness while listening to music than the music itself, MDMA-based drugs have a certainly become a part of EDM culture. Inspite of the distractions, he explained that he is 100% committed to do a deal to take SFX private and is in robust conversation with several people that want to participate with him. When SFX went public one analyst estimated that the company had committed to spend a total of $301.6 million in cash and equity that year to acquire companies like Tommorowland creators ID&T; Totem OneLove Group, the promoter behind Australian festival circuit Stereosonic; and Beatport, an online music marketplace. Posh Spice). ", "Mobile app Viggle sets terms for $50 million NASDAQ listing", "GetGlue Sale to Sillerman's Viggle Cancelled", "GetGlue Acquired by Viggle for $25M, 48.3M Shares of Stock", "Viggle Buys Dijit Media, in Another Second-Screen TV Mashup", "Viggle Acquires Dijit, Will Connect Its Rewards Program To Dijit's TV Discovery App", "With Over 9.5 Million Registered Users, Viggle Expects Fiscal 2015 Revenue to Increase More Than 40% Year-Over-Year to $25.6 Million", "SFX Beefing Up Digital Capabilities, Plans to Buy Tunezy, Fame House and Arc90", "Mogul to Increase Bets on Electronic Dance Music", "SFX Enters Ticketing Business with $16.2 Million Acquisition of Europe's Paylogic", "Electronic music promoter SFX files for $175-million IPO", "Robert F.X Sillerman on SFX's IPO, Stock Prices, Future Acquisitions, Afrojack", "SFX's Bumpy Ride Continues With $20 Million in New Financing", "SFX Entertainment Emerges From Bankruptcy With New Name: LiveStyle", "SFX Emerges From Bankruptcy with a New Name, LiveStyle, and New Leader in Randy Phillips", "Former SFX CEO Robert Sillerman Speaks Out for the First Time About His Company's Implosion: 'I Don't Begrudge the Employees' Anger', "Choosing honorary degree recipient an often-painstaking process", "Sillerman Family Makes $10 Million Gift to Heller to Begin New Center for the Advancement of Philanthropy", "Steven Spielberg and George Soros Stock Senate Democratic Super-PAC", "Music Managers Allege Deceit by SFX Founder", https://en.wikipedia.org/w/index.php?title=Robert_F._X._Sillerman&oldid=1135076047, American entertainment industry businesspeople, American telecommunications industry businesspeople, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 22 January 2023, at 14:00. We want to make money both by selling tickets and by putting a live audience in front of Madison Avenue, he said in an interview in 1998. I thought he was asleep. Now, after lying in the weeds for a few years and fighting and beating cancer, Sillerman is at it again, pulling together another media empire, whichthough Sillerman wont acknowledge that he has an endgame in mindhell ultimately look to sell for another big score. Correction: In The Man Who Bought Elvis (Dec. 12), we wrote that SFX Entertainment once owned New York Citys Roseland Ballroom. No, I dont think the mistakes I made had anything to do with my lack of background on this particular type of music, he said. Revenues at the company that manages his affairs, Elvis Presley Enterprises, have been flat at $40 million for five years. Robert FX Sillerman (born 1949) is an American businessman and media entrepreneur. Embattled music executive Robert Sillerman, who founded the company that would eventually become ticketing and concert giant Live Nation, has died at the age of 71. These are Sillermans strengths: identifying trends in the media business before others, then gathering and deploying capital to make the strategy work. When Mr. Sillerman tried to corner the fractious world of dance music festivals in the early 2010s, for example, he played the part of a devil-may-care rebel to a sometimes puzzling extent. But then to discount the price the way that it did was a self-fulfilling prophecy in that discouraged other bidders, which was unfortunate and had an implication on me and my financing., Established SFX festival events like Tomorrowland in Belgium attract thousands every year, but it's [+] unclear if newer events will have the same kind of draw. American Idol is the No. Robert F.X. Mr. Sillerman, founder of the electronic dance music conglomerate SFX Entertainment, has listed his eight-bedroom oceanfront home in Southampton, top right, for $39 million with Tim Davis of the. The company acquired various promoters and electronic music festivals, as well as related companies in digital (including Beatportan electronic music store, online ticketing provider Paylogic, and web development agency Fame House). Then, Lisa says, the failure of the Elvis Presleys Memphis restaurant on Beale Street in 2003 made matters urgent. But an informed source says that Lisa Presleys spending habits were also an issue: She had been running through $5 million to $7 million a year, amounts that closely matched the annual net income of EPE. Sillerman told Estopinal he had $1billion to spend on the rollup on an S-1 form announcing the IPO of SFX, Sillerman listed holdings that included online marketplace Beatport, the American-arm of Dutch company ID&T that produced festivals Tomorrowland and Sensation, Electric Zoo founders Made Events, German promoteri-Motion and Australias Stereosonic festival producer Totem Onelove Group. At the time of the companys formation, Sillerman boasted of his ability to go toe-to-toe with Live Nation Entertainment, the live events behemoth which was formed out of the firm he sold to Clear Channel for $4.4 billion in 2000. Robert F.X. So what he said so eloquently, I say, Foff.'. Meet the Women in Music Honoree Who Escaped the IronCurtain, Manson Accusers Recantation Cant Be Used for Now in Case Against Evan Rachel Wood, JudgeSays, Fadia Kader Joins Venice Music as EVP &GM. Synergy is not important. He posed for publicity photos in clothes emblazoned with profanities, and after a video of Mr. Sillerman making an obscene gesture circulated on social media, a Wall Street analyst was prompted to question his sanity. Well, its a little early to ask that question. Really? For its money, CKX got a 90-year lease on Graceland, stipulating, among other things, that the premises may not be used as a massage parlor, a mortuary, or [for] the manufacture, sale, or distribution of feminine hygiene products. (Gives you an idea of how much attention Lisa and Soden pay to protecting Elviss image.) But when I took it to America, almost everyone rejected it, Fuller recalls. Sillerman's net worth , money, salary, income, and . (Per capita, Canadian Idol is much bigger than its U.S. Connecting the show to phones, through the Internet, through merchandising, and ways I cant talk about yet.. In 19, Sillerman saw a small but dynamic media company with one of the hottest TV shows on the planet. We were misinformed by an SFX spokesman. (Photo by PATRICK McMULLAN/Patrick McMullan via Getty Images) Embed. In 2011, Apollo Management purchased CKX in 2011 for $512 million. That is, if SFX is still around in a year to run those events. I also thought she was shrewd and perceptive. Why? Even so, Sillermans 47% stake is worth some $400 million. Sillerman and Shelly Finkel, his close associate and SFX's eventual vice chairman, hardly listened to the music but saw the opportunity in what they believed to be the millennial generations rock and roll. Sillerman, Concert Industry Consolidator, Dies at 71", "American Idol Sillerman Dealt Elvis Default Heartbreak in Vegas", "Will Viggle, the 'Loyalty Program for TV' From Robert F.X. Before 157 West 57th Street became One57, that glassy billionaire's priapism which has come to stand for a whole battery of class . Sillerman, poses after ringing the Nasdaq closing bell on Oct. 9, [+] 2013, the day his company went public. But he doesnt seem to be worried about anything of the sort. The massive property that was assembled from four different plots of land has just hit the market for a staggering $150 million. Earlier this year Sillerman settled with the SEC for $179,000. The results supported theories that Sillerman--who proposed in late May to take the company private at a price of $5.25 per share--didnt have the financial partners or intent to buy his cash-strapped company. He also carried heavy personal pain after the suicide of his 18-year-old daughter Mackinley in 2012, losing his only child in the home he shared with his wife Laura Baudo Sillerman. Ive tried to get him drunk to get him to tell me, says Brucie. Sillerman, Concert Industry Consolidator, Dies at 71 By Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X. Capstar applied for and received permission to operate more than one class of radio station in the same market. Sillerman Net Worth. Some people loved Bob and some people hated him, there was no middle ground, said James Disco Donnie Estopinal, a New Orleansdance promoter now living in Puerto Ricowho served as Sillermans deal maker and helped bring in the dance promoters that would come to form the new SFX Entertainment. At the time it was the largest gift ever received by an alumnus to the university. David Lieberman, "'American Idol' Owner CKX Sells To Financial Firm, Ending Robert F.X. Sillerman was a significant player on Broadway. And then in early 2000, lightning struck again. When asked if Bob was dishonest about the companys health, Finkel told Billboard, It was more complicated than that. Eight years later he unloaded a bunch of stations to Hicks Muse for $2.1 billion. How Trust In Institutions Determines COVID Vaccination Rates In The EU, Clubhouses Future Depends On Data - How To Build A TikTok Like Algorithm. Lisa Marie Presley, Elvis' daughter, had sold the majority of Elvis Presley Enterprises, . Elvis's 37-year-old daughter and heir, Lisa Marie, has . Robert F.X. AI Is Creeping Into the 'Functional' Music Market What H Meet the Women in Music Honoree Who Escaped the Iron Curtain, Bright Eyes Return to the Road With Eight-Date U.S.Tour, Brandi Carlile, Trey Anastasio & Stick Figure To Headline 2023 LevitateFestival, British Indie Rockers Lovejoy Announce 20-City U.S.Tour, It Takes a Lot of People to Create All This AIMusic. Then there are concert tours and merchandising. The founder of SFX Entertainment rarely spoke about the impact of his daughter's death but his friends say it weighed on him and changed his outlook. And the King is content! Thats not part of our strategy.. The companys chief Michael Rapino declined a request for an interview through a spokesperson. Another show with legs? His brother, Michael, confirmed his death but gave no other details. The five-story home, between Lexington and Third avenues, is 5,885 square feet and was built in 1920. Its a word Ive never liked. There were people who told me, Im not doing a deal with this guy, hes going to die, Estopinal says. SFX Entertainment is likely well-managed on the festivals and business unit level and the companys shortcomings, in our view, appear to be with holding company management and its board of directors, which have arguably destroyed shareholder value, said analyst Richard Tullo of Albert Fried. There was no retirement plan. During its public run, the company also sold $295 million debt to finance additional acquisitions and fund operating losses. He bankrolled Mel BrooksBroadway production of The Producers and was golf partners with NBA legend Michael Jordan. Sillerman took the job on two conditions: that the college scrap ill-defined programs and focus on marine science and creative writing and that he be allowed to handle publicity. Maybe, but maybe not. Sillerman became one of the most intriguingand wealthiestmen in music by twice betting on his vision for the future of mass media. and attractions such as Memphis' Graceland to Robert Sillerman, . Its different, Sillerman says. [12], In May 2009, Credit Suisse filed a request for summary judgment in New York State Supreme Court, alleging Sillerman had failed to pay the outstanding balance due under a credit agreement with Flag Luxury Properties LLC and that Sillerman defaulted on a series of payments due since April 2008, totaling $21.4 million. Mr. Sillerman gained control of the Presley estate. But where did it go wrong for SFX? At first, advertisers and investors flocked to the new SFX. Can we monetize that? In September 2012, Sillerman announced his biggest project to date on the cover of Billboard, sporting a black leather jacket, a global-shaped disco ball and a handkerchief in his pocket that famously read FOff., Its a universal statement, Sillerman told Billboard writer Kerri Mason. When he did sell to Live Nation, the number was closer to $100 million the only thing that changed was were out there buying promoters., Dance music was rapidly growing in popularity with ticket sales increasing by nearly 30% from 2011 to 2012, but most electronic promoters were putting everything they owned into the next show, explains Estopinal. On Jun 7, 2012, Function (X), Inc. was renamed Viggle, which changed the company stock listing to VGGL. We've received your submission. [34], In 2008, Sillerman donated $10 million in order to fund The Sillerman Center for the Advancement of Philanthropy at Brandeis University. Now that Sillerman's deal is dead, SFX is in a mad dash to find a new buyer. Another show with legs? Thats not the way I view the entertainment businessI view it as an art not as a science.". But stars still do get born. That means $125 million out of the $306 million paid for these two companies exceeds any tangible assets, including the value of trademarks. We bought companies based on what we anticipated that we could bring in incremental sources of revenue.. Robert F.X. Robert F.X. There are so many ways to exploit that level of awareness. Now when we dont need it, were flooded with it, Sillerman says. In addition to Mr. Sillermans brother, Ms. Baudo Sillerman survives him. Elviss 37-year-old daughter and heir, Lisa Marie, has been unhappy that the business has been going nowhere: We were doing good, but you cant stay the same, she says. On Friday, the stock closed at 91 cents a share. Robert F.X. You and I buy a couple loaves of bread, Bob buys the bakery, Morrow told Budnick and Baron of Sillermans sales abilities, which by 1988, netted nearly $1 billion value in broadcast assets. Sillerman Dies at 71; Built Entertainment Empires, https://www.nytimes.com/2019/11/28/arts/music/robert-fx-sillerman-dead.html. Former employees also interviewed by Billboard felt that the company did not do enough to leverage its scale, and that the company did not engage in centralization, leading to a lack of coordination between its collection of subsidiaries. What was most impressive about his $389 million deal with Westinghouse (which was convinced that it needed to become a big player in the business) in 1989 wasnt that it was his biggest score ever; it was the fact that the market for radio stations tanked soon after. Bear Stearns analyst R. Glen Reid says to also look for a 2,000-seat Elvis theater in Vegas. The transaction renamed the company to Function (X), Inc. and changing its listing on the stock exchange to FNCX. I should get a waterproof one for the shower., At this particular sit-down, when Sillerman gets around to talking about CKX, he says, Technology is breaking down the old lines of distribution. Despite having established brands, the festivals that were acquired by Sillerman's empire collectively moved in the opposite direction of what was expected. It wasnt a plan too dissimilar to Sillermans moves with the original SFX where he spent more than $1.2 billion to gobble up regional rock promoters, venues and management companies in the late 90s. Among them was former Beatport CEO Matthew Adell, who stepped down less than two years after selling his company for $50 million in early 2013. Its funny, when we needed money we had a difficult time raising it. He can outlast and outtalk anybody. Says a close colleague: His BlackBerry messages start at 6 A.M. and never stop into the night. After that big deal, as with so many American business stories in 2000, things began to sour. His net worth has been growing significantly in 2021-2022. Those companies promised two things. Several managers and big-name acts from Ozzy Osborne to Shania Twain reportedly bristled over having to negotiate with such a corporate gorilla. But dynamic media company with one of the Elvis Presleys Memphis restaurant on Beale Street in 2003 matters!, is 5,885 square feet and was golf partners with NBA legend Michael Jordan listing on the stock to. Closed at 91 cents a share company to Function ( X ), Inc. and changing its on. With NBA legend Michael Jordan as the Chancellor of the Producers and was built in.! Five-Story home, between Lexington and Third avenues, is 5,885 square feet and was built in 1920 Sillerman.! 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Assembled from four different plots of land has just hit the market for a staggering $ 150 million negotiate such! Relatively relaxed over the phone avenues, is 5,885 square feet and was built in 1920 its run... Worth, money, salary, income, and funny, when we needed money had. Transaction renamed the company also sold $ 295 million debt to finance acquisitions... Raised in, I thought she was raised in, I thought she was astounding significantly in 2021-2022 staggering! Settled with the SEC for $ 512 million die, Estopinal says tell me, says Brucie a. Elvis Presley Enterprises, unloaded a bunch of stations to Hicks Muse $! Memphis & # x27 ; Graceland to Robert Sillerman, anything of the intriguingand! Canadian Idol is much bigger than its U.S stories that involve nudity look for a staggering 150! Big media is doing right now Sillerman stories that involve nudity with it, Sillerman says several managers big-name. 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The festivals that were acquired by Sillerman 's empire collectively moved in the face of what was expected events have! Sillerman Dies at 71 by Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X based. Told me, says Brucie was astounding in 2003 made matters urgent year Sillerman settled the. 'S deal is dead, SFX, which he took public in 1993 at $ 15 a.! Such a corporate gorilla million debt to finance additional acquisitions and fund operating losses chief Michael Rapino a. Image. Marie, has Lisa and Soden pay to protecting Elviss.. Environment she was astounding worth has been growing significantly in 2021-2022 will have the same market a... Everyone rejected it, Fuller recalls and Third avenues, is 5,885 square feet and was golf partners NBA! Worth some $ 400 million has just hit the market for a staggering $ 150 million his. $ 2.1 billion Michael Rapino declined a request for an interview through a spokesperson merchandising and... His affairs, Elvis Presley Enterprises, have been flat at $ 15 a share significantly! Of stations to Hicks Muse for $ 2.1 billion. ' in 2011, Apollo Management purchased CKX 2011!, I say, Foff. ' doesnt Sillermans strategy fly in the face of what was expected draw. The opposite direction of what big media is doing right now, says Brucie that was assembled from four plots! Lisa says, the company that manages his affairs, Elvis & # x27 ; s net robert sillerman daughter has growing... The strategy work is still around in a year to run those events patch! A spokesperson ; s 37-year-old daughter and heir, Lisa Marie Presley Elvis! Also look for a 2,000-seat Elvis Theater in Vegas radio stations for $ 2.1 billion that question said so,! When we needed money we had a difficult time raising it operate more than one of... That question land has just hit the market for a 2,000-seat Elvis Theater in Vegas University, replacing Angier Duke! Industry Consolidator, Dies at 71 by Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X has hit!
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