CKX has the rights to the Elvis name, image, likeness, and trademark, which are currently used in 100 or so merchandising and licensing deals. and attractions such as Memphis' Graceland to Robert Sillerman, . Sillerman was looking to become the single big fish in this business so that when acts like Eric Clapton went on tour, his manager would deal with SFX and SFX only when booking venues. Robert F.X. Viggle registers the television show a person is watching, and engages the users with a loyalty program for viewing particular programs. No question we could build a convention-sized hotel here, says Soden. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. With Finkel by his side and Estopinal giving the pair needed credibility, Sillerman set out to once again consolidate the dance music business by buying up dance promoters in Europe, Asia and North America. Todays star- making machinery is half-a-century and light years away from that process. Earlier this year Sillerman settled with the SEC for $179,000. All Rights Reserved. It runs in the family: Lisa Marie Presley signs autographs for NASCAR fans at Daytona Speedway this past July. Robert Franklin Sillerman was born in Manhattan on April 12, 1948, to Michael McKinley Sillerman, a radio and television executive, and Estelle (Levande) Sillerman. Sillerman told Estopinal he had $1billion to spend on the rollup on an S-1 form announcing the IPO of SFX, Sillerman listed holdings that included online marketplace Beatport, the American-arm of Dutch company ID&T that produced festivals Tomorrowland and Sensation, Electric Zoo founders Made Events, German promoteri-Motion and Australias Stereosonic festival producer Totem Onelove Group. This company owned "American Idol" and the licensing rights to Elvis Presley and his Graceland estate. There was no retirement plan. Try A Different OS, Get Vaccinated? The New York entrepreneur is most notably known for consolidating a number of U.S.. I liked him, she says. [7] The company was merged at the end of 1989 with a unit of Westinghouse Broadcasting in a then record-setting transaction worth $727 million. And the King is content! [30][31], In an interview with Billboard, Sillerman admitted that there were "no easy answers" surrounding why the company collapsed, but added that he didn't "begrudge the disappointment and anger" of his staff because he was just as disappointed over the company's performance. Robert F.X. What kind of person would grow up to have business dreams like these? Helped by federal deregulation of radio ownership rules, the two were able to quickly amass a chain of more than 70 stations, which they sold in 1997 to a larger rival, Capstar Broadcasting, for $2.1 billion. Lately Sillerman has become more guarded, though. The Bolshoi Ballet came en masse to Graceland, Soden recalls. Sillerman, Transform Television? Robert F.X. But if you walk down the street, youll be hard-pressed to find somebody who doesnt know what it is. While he survived that battle, Sillerman is now in a fight to salvage SFX Entertainment, which went public at $13 a share and was valued at more than $1 billion in Oct. 2013. [37], In May 2012, Sillerman was accused of sexual harassment by an employee of Function X. The founder of SFX Entertainment rarely spoke about the impact of his daughters death but his friends say it weighed on him and changed his outlook. SFX now has a market capitalization of $88 million. Entertainment mogul Robert Sillerman is facing foreclosure on his $16 million Upper East Side town house for defaulting on a $12.5 million loan since 2015, a new lawsuit claims. Dressed in all black, the music mogul--who once appeared on the 2005 Forbes 400 list with a. We have to be careful to not deprecate Elviss legacy or to damage our authorized and official Elvis shows.. Mr. Sillerman, founder of the electronic dance music conglomerate SFX Entertainment, has listed his eight-bedroom oceanfront home in Southampton, top right, for $39 million with Tim Davis of the. Thats not the basis of CKX. With a market value of $1.1 billion, is CKX overvalued? Sillerman has a $1 billion plan to conquer the world of dance music, read the publications cover line. The third and fourth floors boast a bedroom with 20-foot ceilings, a woodburning fireplace, two bathrooms one of which has another woodburning fireplace and two dressing rooms. I meet the people whose places we're buying. So what he said so eloquently, I say, Foff.'. What would be the ultimate winning scenario for Sillerman? But for years he had maintained a golden touch in building media franchises and extracting maximum value from them. In 2010, he re-emerged with a second strings-attached take-private bid, but CKXs board chose to sell the company to Apollo Global for $5.50 a share, a bruising result for investors. Robert F.X. Its easy to say that in hindsight, Sillerman told Billboard in a June 9, 2016article. We had to do something right away to make money, and that something was to open up Graceland for tours., On the first day Soden and Elviss ex-wife, Priscilla, opened up the Memphis mansion, 3,024 fans filed in, paying $5 each. This year, there are 88 festivals that we anticipate doing, said Sillerman. Some of those companies listed werent done deals, Estopinal tells Billboard, adding that Sillerman misrepresented his financing and capitalization as he put SFX together. He just didnt a fabout anything, said one former business partner who did not want to share their name. He managed Annie Lennox and the Eurythmics, and then created the Spice Girls. In the years following that tragic 2012 event, he was often treated as a cartoon villain in the media, trying for a third, fourth and even fifth act in business, and some say the death of his daughter hardened him to any criticism. As big as Sillermans ambitions, perhaps. Because American Idol is whats known as event programming, meaning that because its a contest, you almost have to watch it live. Sillerman, an investor and media executive who built and sold radio empires, controlled the Elvis Presley estate and consolidated the American concert industry, died on Sunday. LinkedIn has officially entered its cringe era, and its working. But when I took it to America, almost everyone rejected it, Fuller recalls. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. It was a smash right off the bat. They said music doesnt work on TV in America. Sillerman, the New York businessman who consolidated a number of U.S. concert promoters in the 1990s and created the company that would eventually become Live Nation, died Sunday. He was one of the producers of The Producers, the Broadway hit, written by his friend Mel Brooks, that ran for six years and pushed the limits of ticket prices on Broadway. But stars still do get born. The truth is, for all of Elviss transcendent mystique, EPE has never been much of a business. The five-story home, between Lexington and Third avenues, is 5,885 square feet and was built in 1920. To Sillerman the soft patch was an opportunity to reload. As his business world collapses around him, Sillerman seemed relatively relaxed over the phone. The company that emerged would become Clear Channel, which is now known as iHeartRadio. There is little profit to invest in potentially lucrative assets like the Heartbreak Hotel, across the street from Graceland. I suppose there are all kinds of gratifying lines of work, he says. And they said they would synergize their content. Ive tried to get him drunk to get him to tell me, says Brucie. Between Elviss legendary free spending and the fact that he didnt own his songs, the situation was dire. Contestants on the new Fox hit So You Think You Can Dance.. Sillerman, 57, a Wall Street operator with a long history of minting money in the . Billboard is a part of Penske Media Corporation. [8], In 1989 Sillerman formed Capstar Communications. I just love it.". Thats not part of our strategy.. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices That seemed to sum everything up., A daily briefing on what matters in the music industry. That is, if SFX is still around in a year to run those events. Despite having established brands, the festivals that were acquired by Sillerman's empire collectively moved in the opposite direction of what was expected. Recognizing the environment she was raised in, I thought she was astounding. And $6.5 million went to Priscilla Presley for use of the family nameeven though Sillerman wasnt legally obligated to pay her anything, since Priscilla and Elvis were divorced, and Elviss estate went to Lisa Marie. Sillerman, poses after ringing the Nasdaq closing bell on Oct. 9, [+] 2013, the day his company went public. "[9], On February 8, 2011, Sillerman announced an agreement to acquire control of Gateway Industries, Inc. (GWAY.PK). Even so, Sillermans 47% stake is worth some $400 million. Michael Sillerman died in 1980, just when his sons career was taking off. The company also acquired 80% in Muhammad Ali Enterprises. SFX bought up enough stations to become the nation's seventh largest chain. Robert F.X. Robert F.X. Sillerman also bought the business of sports superagent David Falk (he repped Michael Jordan, among others) and other pieces of the sports world, such as figure-skating championships. "Robert F. X. Sillerman," Wikipedia.org. According to Billboard, Sillerman died of a. Almost immediately after Sillerman closed on the Elvis deal, he opened his wallet again and purchased 19 Entertainment, a business with even more moving parts than Elvis. Sillermans personal take was a reported $219 million. Striking a deal shouldnt be that difficult. The results supported theories that Sillerman--who proposed in late May to take the company private at a price of $5.25 per share--didnt have the financial partners or intent to buy his cash-strapped company. A serial media-industry entrepreneur, Sillerman was best-known at the time for buying up concert promoters under the rubric of SFX Entertainment and, in 2000, selling them to the radio giant. F Former SFX Entertainment founder Robert Sillerman has agreed to pay a $179,000 fine after the U.S. Securities and Exchange Commission charged the businessman with fraud for illegally. We want to make money both by selling tickets and by putting a live audience in front of Madison Avenue, he said in an interview in 1998. 2023 Billboard Media, LLC. Robert F.X. That company was also called SFX. In September 2016, U.S. district court judge Colleen McMahon ruled there was evidence that Sillerman likely misrepresented the go-private plan to inflate the companys price and allowed a lawsuit by investors with the Guevoura Fund to move forward. Sillerman's net worth , money, salary, income, and . Within a matter of weeks it is likely that CKX will announce some sort of Elvis Presley or Graceland-themed casino in Las Vegas. In some ways, thats good news for Sillerman and SFX: the cost of talent is no longer skyrocketing. Sillerman announced in early June that he'd be making a return to the live entertainment industry, and today he made his second purchase toward that. It declared bankruptcy in 2016, and many of the assets it had amassed were sold off. In 1993 he founded SFX Broadcasting with a partner, R. Steven Hicks. Mr. Sillerman attempted to rebrand the project as a Baccarat Hotel but this also failed. The Securities and Exchange Commission today charged New Hampshire resident Robert F.X. They acquired additional radio and TV stations, including WALL and WKGL (Middletown, New York); WJJB; (Hyde Park, New York); WHMP (Northampton, Massachusetts); WLOM (Orleans, Massachusetts); WRAN (Randolph, New Jersey); WPLR (New Haven, Connecticut) and the television station WATL (Atlanta). And game shows are the longest-lasting shows on TV. Additionally, Robert FX Sillerman has had 6 past jobs including Founder at Live Nation. Well, its a little early to ask that question. Really? By day he majored in political science, while by night in 1966 he launched Youth Market Consultants, offering fellow students discount magazine subscriptions while advising marketers on how to target the teen set. A limestone mansion once owned by the late entertainment mogul Robert F.X. When things were going bad, he was looking for ways to try and make it work, Finkel said. 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