SFX Entertainment, the growing construct of entertainment companies, venues and sports interests, has announced a major sports-related acquisition, Tellem & Associates. Tellem is a leading baseball and basketball talent representation agency.
Founded in 1989 by CEO, Arn Tellem, Tellem & Associates represents some 20 major league baseball players and more than 35 basketball players.
Tellem's baseball clients include Albert Belle, Nomar Garciaparra, Jason Giambi, Doug Glanville, Mike Lieberthal and Mike Mussina. In basketball, the company represents Kobe Bryant, Danny Fortson, Antawn Jamison, Tracy McGrady, Baron Davis, Brent Barry, Jonathan Bender, Jermaine O'Neal and Tim Thomas.
"The addition of Arn's clients to our already established position undoubtedly makes us the preeminent force in both these major sports," said Robert F. X. Sillerman, executive chairman of SFX Entertainment. "In baseball and basketball we already represent some of the major stars in both sports. Our current baseball clients include Roger Clemens, Ben Grieve, Kerry Wood, Ryan Klesko, Jay Buhner, Roberto Hernandez and Jose Cruz, Jr.; and in basketball, our roster includes Hakeem Olajuwon, Alonzo Mourning, John Starks and, of course, Michael Jordan.
"This in turn will certainly benefit all of the athletes whom we will now represent, as we gain important critical mass in both areas, "Sillerman said. "Our experience in contracting for players' services on the field and the court are immeasurably enhanced by the additional expertise we bring in the areas of endorsements and corporate sponsorships. We have gained this singular intelligence through our broad range of activities in consulting and negotiation, developing hundreds of relationships in the sports and entertainment businesses, all of which can be marshaled in the service of our clients.'' "This is a sound strategic move for my clients as it will give them broader exposure to marketing and other endorsement opportunities," explained Arn Tellem, president of Tellem & Associates. "Ultimately, this is one of those relationships that just makes sense for everyone involved.'' SFX Entertainment describes itself as the world's largest diversified promoter, producer and venue operator for live entertainment events. The company owns, partially or entirely, and/or operates the largest network of venues in the country used principally for music concerts and other live entertainment events.
SFX reports that it has 116 venues, including 16 amphitheaters in all of the top 10 U.S. markets and owns or operates venues in 31 of the top 50 domestic markets overall.
SFX also develops and manages touring Broadway shows, selling Broadway subscription series and individual productions in 55 markets. Through its large number of venues, its strong market presence and the long operating histories of the businesses it has acquired, SFX operates an integrated franchise that promotes and produces a broad variety of live entertainment events locally, regionally and nationally.
As of 11:17 AM, 29 Sept., SFX stock was trading at 33 3/4, down 7/8 or 2.53 percent.
-- By Murdoch McBride