Unknown investor finances SFX Entertainment with £20 million
The company's shares have increased by 57 per cent
Troubled events promoter SFX Entertainment has been given £20 million in financing.
Although it's unknown where the investment came from, NY Post reports that it's resulted in shares of Robert Sillerman's company increasing by 57 per cent.
We reported in November that SFX was close to bankruptcy after a selection of controversial happenings including Beatport, the music site owned by SFX, delaying royalty payments, investors filing a lawsuit for being mislead and the TomorrowWorld farce.
The new injection of cash also follows an earlier raise of £90m worth of investment.
Dave Turner is Mixmag's Digital News Editor, follow him on Twitter
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