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Business News Deals Live Business
New York venue buys Electric Zoo promoter
By Chris Cooke | Published on Thursday 16 June 2022
The company behind New York nightclub and venue Avant Gardner has reportedly acquired New York-based promoter Made Event, best known for running the Electric Zoo electronic music festival.
Made Event was one of the many electronic music centric companies bought by SFX in the early 2010s as entertainment industry veteran Robert FX Sillerman tried to create a dance music powerhouse, basically by replicating the acquisition hungry approach he’d previously employed in the 1990s to create the original SFX live events company that ultimately morphed into Live Nation.
However, the second SFX project ran into financial problems, the company ultimately filing for bankruptcy in 2016. Out of that bankruptcy emerged the much more stable LiveStyle Inc, which retained a number of Sillerman’s previous acquisitions, including Made Event.
But, according to Billboard, the Electric Zoo promoter was sold to Avant Gardner earlier this month in a $15 million deal. The Avant Gardner company was founded by Swiss concert promoter Billy Bildstein and banker Philipp Wiederkehr, with its New York venue complex opening in 2017.
