SFX Entertainment's “eSuperstars” has teamed with aBid4Charity in a web venture backed by MSD Capital that will create a "marketplace for B2b (business to business) corporate entertainment."
In the venture, SFX's eSuperstars will work with aBid4Charity, a sports and entertainment auction web venture to create what SFX calls a "one stop shop destination website, fulfilling all of the sports and entertainment needs for businesses, charities, and individuals."
According to an SFX paper statement, SFX, MSD Capital, iCentennial Ovation and West Broadway Interactive Capital will have ownership stakes in the new company, which launches its site in April.
As reported earlier, SFX has an increasingly influence role on Broadway. 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. In the third quarter of this year, SFX will be purchased by the radio network, Clear Channel Communications.
Once Clear Channel finalizes its separate and previously-announced $14 billion deal to purchase the radio network AMFM (and the subsequent $4.4 stock swap deal for SFX), the company will operate 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. "eSuperstars is positioned to become the pre-eminent provider of dream experiences and memorabilia to corporations and consumers,'' said Robert F.X. Sillerman, executive chairman of SFX, Inc. ``This is the first-ever effort to efficiently organize the historically fragmented and rapidly growing experiential market and SFX is excited to be a part of it."
SFX indicated that eSuperstars aims to become "the dominant player in the over $50 billion corporate entertainment, incentive and promotions market" and said that the company has "pioneered the e-commerce platform for the buying and selling of sports and entertainment VIP experiences."
In sports, eSuperstars is "The Official Dream Provider" of the New York Knicks, New York Yankees, Los Angeles Lakers and the Atlanta Super Bowl XXXIV Host Committee, among others.
-- By Murdoch McBride