SFX has announced the formation of SFX Properties, a new division that will "capitalize on intellectual property rights and merchandising opportunities."

The new division will be run by Jeff Sofka, who was the vice president of licensing and merchandising for SFX's Sports Group. Sofka's division will be involved with "licensing, consumer products and intellectual property rights management."

As reported earlier, 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 two outstanding deals—its $14 billion deal to purchase AMFM and the subsequent $4.4 stock swap deal for SFX—the company will operate a total of 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