SFX Awarded Major 20-Year Venue Contract from State of New York

News   SFX Awarded Major 20-Year Venue Contract from State of New York SFX reports that it has been awarded a 20-year license agreement from the State of New York to operate the Jones Beach Theater.

SFX reports that it has been awarded a 20-year license agreement from the State of New York to operate the Jones Beach Theater.

Ron Delsener, co-president of SFX/DelsenerSlater called the contract "the perfect marriage of the best outdoor entertainment venue with the best live entertainment company.''

SFX relies heavily on live promotion and various advertising tie-ins. Music promotion comprises a large percentage of SFX's operations while other businesses, including theatre, account for roughly 10-12 percent.

As reported, SFX develops and manages touring Broadway shows, and sells Broadway subscription series and individual productions in 55 markets. An integrated franchise that promotes and produces a broad variety of live entertainment events locally, regionally and nationally, SFX has 122 venues overall, and owns or operates venues in 31 of the top 50 domestic markets. SFX is being purchased by Clear Channel Communications. Once Clear Channel finalizes its $14 billion deal to purchase radio broadcaster AMFM and the subsequent $4.4 stock swap deal for SFX, the company will operates 874 radio and 19 television stations in the United States and will have equity interests in over 240 radio stations around the world. In its other significant business, Clear Channel operates more than 550,000 outdoor advertising displays, including billboards, street furniture and transit panels.

-- By Murdoch McBride