SFX Entertainment continues its buying spree in the EDM world with the purchase of music-download site Beatport, a source confirmed to Billboard.biz today. The deal was for slightly more than $50 million, the source said, although SFX chief Robert F. X. Sillerman declined to name the price. The news was first reported in the New York Times.
Beatport head Matthew Adell told the paper that being part of SFX could help the company expand into live events as well as internationally.
“We already are by far the largest online destination of qualified fans and talent in the market,” he said, “and we can continue to grow that.”