NEW YORK — SFX Entertainment reported Monday that its music operations have landed in Chicago, the only top 10 markets in which the promoter, producer and venue operator of live entertainment lacked a presence.
Entry into the Windy City came via a 10-year contract with the Village of Rosemont, located in Chicago’s suburbs, to provide booking, group sales and marketing support for both the Rosemont Horizon, a 17,500-seat arena, and the Rosemont Theater, a 4,000-seat auditorium.
In addition, SFX announced an agreement to acquire the Entertainment Group, which has a 25% stake in the Radio City Christmas Spectacular in Chicago and a similar interest in the Mexico City market.
SFX chairman Robert F. X. Sillerman called the deals “a significant accomplishment” before noting that “live theatrical presentation has always been a mainstay of the city’s vibrant entertainment life.”
Including pending acquisitions, SFX owns or operates 69 venues in 28 of the top 50 markets. As a developer and manager of touring Broadway shows, it also sells annual subscription series in 38 markets to 240,000 theatergoers.
SFX stock fell 3.1% Monday to close at $58 a share.