SFX Rio Deal Official

SFX Entertaiment made official Dec. 16 its acquisition of an interest in Rock In Rio, one of the world’s largest music festivals. 

The company, which has been gobbling up EDM and related events all year, will own 50 percent of a new entity that controls the operations of Rock in Rio, its companion in Portugal and an eventual U.S. festival, according to the SFX announcement.

No purchase price was announced, but the company said more information would be available once it files the transaction with the Securities and Exchange Commission.