We have to be careful to not deprecate Elviss legacy or to damage our authorized and official Elvis shows.. All Rights Reserved. In 1993 he founded SFX Broadcasting with a partner, R. Steven Hicks. [14] If we can, this will dwarf the first SFX. Another show with legs? (Photo by PATRICK McMULLAN/Patrick McMullan via Getty Images) Embed. [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. He wa The Bolshoi Ballet came en masse to Graceland, Soden recalls. [8], In 1989 Sillerman formed Capstar Communications. Late last year Lisa Presley flew to New York to meet Sillerman face to face. ), Sillerman with Rod Stewart and Dick Grasso at the NYSE.Henny Ray Abrams AFP/Getty Images. But when I took it to America, almost everyone rejected it, Fuller recalls. 19 did some $92 million in revenues last yearwith about a third coming from the Idol showsand earned $12.6 million. He declined to comment for this story via email. All these ballet dancers from Russia were huge Elvis fans, and [their handlers] were asking for our help to get them out of here and back to rehearsal. Robert Sillerman, born April 12, 1948 in the Riverdale section of the Bronx, early on had a strong entrepreneurial bent starting a greeting card in high school and a youth marketing company while at Brandeis University. The app will also display the social media activity for other shows at the same time, along with what rewards are available for changing the channel to competing programs. As a subscriber, you have 10 gift articles to give each month. Elvis left the building 28 years ago, but as a pop icon hes still hot. That greatly reduces the number of viewers who DVR it and skip the commercials. Between Elviss legendary free spending and the fact that he didnt own his songs, the situation was dire. Sillerman, 57, a Wall Street operator with a long history of minting money in the . Sillerman, Concert Industry Consolidator, Dies at 71 By Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X. In fact, theres a hit TV show in the business of finding them. Down the road EPE may construct more Graceland-like properties in places such as Dubai and Macau, and perhaps develop a concept similar to the Hard Rock Cafs in Europe. EDM Mogul Bob Sillerman Finds a Buyer for His $28 M. Townhouse. He has unbounded energy when it comes to business. In 19, Sillerman saw a small but dynamic media company with one of the hottest TV shows on the planet. [36] Sillerman was also a donor and fundraiser for the Democratic Party in the United States. So what if the next Elvis is discovered on American Idol? Sillermans new frontier was to be EDM, a genre whose live events like Electric Daisy Carnival and Belgiums Tomorrowland were drawing millions of neon-wearing, glow stick-flashing young adults to festival grounds around the world. Speak with executives at Graceland and in New York, though, and it quickly becomes obvious how they want to further elevate the King. He also carried heavy personal pain after the suicide of his 18-year-old daughter Mackinley in 2012, losing his only child in the home he shared with his wife Laura Baudo Sillerman. Powered and implemented by Interactive Data Managed Solutions. In 2017, he almost lost the home after defaulting on a $12.5 million. Michael Sillerman died in 1980, just when his sons career was taking off. He often named his companies using some combination of those initials. He sold the company in 1972 to the Boston ad firm, Ingalls. Sillerman intends to buy more high-profile properties like these (think athletes and rock groups, for instanceSillerman is tightlipped about possible deals), find new ways to distribute them, and increase their value. Sillerman with Rod Stewart and Dick Grasso at the NYSE. In that spirit, he named Kermit the Frog as the 1996 commencement speaker: 31 newspapers picked up the story, a free marketing bonanza that raised the college's profile and drew hundreds of new admissions. He loves to party. He doesnt want to mess with anything. I just love it.". around. As for Sillermans take on Lisa: I was impressed with how real and grounded she was. Robert F.X. Elvis sighting: Owner, icon, and fan in downtown Manhattan. In February 2014, a lawsuit was filed against Sillerman, for allegedly having defrauded a trio of business partners. In February 1982 the probate judge told the trustees of the estate that he feared it would go bankrupt because of taxes and legal fees, says Jack Soden, a Kansas City money manager brought in to advise the Presley family. Im not very knowledgeable about real estate, he reportedly told the New York Post at the time. And there are between 105 and 110 scheduled for next year.. When asked what exactly went wrong with SFX, Sillerman offered two explanations: mistakes in management and a misunderstanding of the complexity and time of marketing partnerships. He did not name any specific people with regards to personnel issues, though music industry sources pointed to the fact that many of the people who sold their businesses to SFX did not stay long after closing their deals. . The company acquired various promoters and electronic music festivals, as well as related companies in digital (including Beatportan electronic music store, online ticketing provider Paylogic, and web development agency Fame House). He posed for publicity photos in clothes emblazoned with profanities, and after a video of Mr. Sillerman making an obscene gesture circulated on social media, a Wall Street analyst was prompted to question his sanity. Perhaps the bigger question centers on the inherent limits of EDMs popularity. In her ruling, McMahon said the buyout offer was likely made to distract attention from the companys poor quarterly financial reports, which showed that SFX was bleeding money and attendance at its events dropping. In December 2016, former SFX board member Mitch Slater sued Sillerman for an unpaid $2.5 million loan from 2015. When presented to the public--and later, Wall Street--the plan for SFX Entertainment seemed simple enough: roll up local EDM event organizers under one umbrella organization that could drive profits by providing structure and efficiency. Even when he was being sued in the end and was broke, hacking and wheezing with a hole in his throat and eating through a feeding tube, he was cracking blowjob jokes and talking about how he was going to f this guy and how this other guy was a scumbag.. Within a matter of weeks it is likely that CKX will announce some sort of Elvis Presley or Graceland-themed casino in Las Vegas. SFX CEO Entertainment Robert F.X. Over a few years in the late 1990s, Mr. Sillerman and his new company, SFX Entertainment, spent more than $2 billion acquiring dozens of promoters and venues, creating the concert worlds first truly national force. Sillerman, Transform Television? Brandeis University Recent News and Activity Funding Round Sep 16, 2014 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. Its main app NextGuide and Digit Reminder Button was integrated into Viggle software. When he did sell to Live Nation, the number was closer to $100 million the only thing that changed was were out there buying promoters., Dance music was rapidly growing in popularity with ticket sales increasing by nearly 30% from 2011 to 2012, but most electronic promoters were putting everything they owned into the next show, explains Estopinal. He likes to jump out of the bushes or hide in hotel rooms and scare people, says Cousin Brucie. Sillerman was a significant player on Broadway. CKX already carries a load of goodwill, $14 million from the Presley deal, and $111 million from the 19 transaction. It didnt scale and this round was young promoters that werent as established as the promoters from the first round of buyouts in the 1990s. Mr. Sillermans plan transformed the concert industry even as it drew complaints, which still linger, about rising ticket prices and the outsize power of a centralized super promoter. In short order Sillerman went on a billion-dollar shopping spree, buying dozens of concert hallslike Roseland in New York and the Fillmore West in San Franciscoin major cities across the country. Nearly three years ago, Robert F.X. There were people who told me, Im not doing a deal with this guy, hes going to die, Estopinal says. It Takes a Lot of People to Create All This AI Music. The guy didnt have any energy, says Morrow. Sillerman has a $1 billion plan to conquer the world of dance music, read the publications cover line. In September 2012, Sillerman announced his biggest project to date on the cover of Billboard, sporting a black leather jacket, a global-shaped disco ball and a handkerchief in his pocket that famously read FOff., Its a universal statement, Sillerman told Billboard writer Kerri Mason. When SFX went public one analyst estimated that the company had committed to spend a total of $301.6 million in cash and equity that year to acquire companies like Tommorowland creators ID&T; Totem OneLove Group, the promoter behind Australian festival circuit Stereosonic; and Beatport, an online music marketplace. The stock cratered. [19][20] In July 2015, Viggle had more than 9.5 million registered users across all properties, up from 5.4 million registered users at the end of 2014. This is a BETA experience. And the show garners the highest ad rates on network TV, between $660,000 and $705,000 for a 30-second spot, which is higher than CSI or Desperate Housewives. Elvis's 37-year-old daughter and heir, Lisa Marie, has . However, since doubts of Sillerman's take-private began to emerge in July, the company hasn't disclosed a bona fide competing offer. David Lieberman, "'American Idol' Owner CKX Sells To Financial Firm, Ending Robert F.X. How big will CKX become? The listing brokers are Douglas EllimansCaroline Holl, Michael Russell and Stephen Geller. But the flattening rates for top acts may be symptomatic of demand, a signal that EDM more broadly is approaching a saturation pointand that pouring more money into creating more festivals, Sillermans plan all along, is not a viable strategy anymore. So far Idol stars like Kelly Clarkson and Clay Aiken have sold over 14 million albums. [33] In 2000, Sillerman donated a $15 million gift through the Tomorrow Foundation to extend the library and for marine science scholarships. [9] Clear Channel, which had already purchased many of Sillermans radio stations from Hicks Muse, agreed to buy SFX Entertainment for a reported $3 billion. 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. Robert FX Sillerman (born 1949) is an American businessman and media entrepreneur. We've received your submission. He also made money on Broadway as an executive producer for Mel Brooks' musical The Producers. I also thought she was shrewd and perceptive. He was 71. And thats just part of the American Idol money train. . Sillermans personal take was a reported $219 million. Viggle registers the television show a person is watching, and engages the users with a loyalty program for viewing particular programs. Man in the middle: Simon Fuller (in back) with Idol stars Kelly Clarkson, Ruben Studdard, and Fantasia Barrino. After that big deal, as with so many American business stories in 2000, things began to sour. Now that Im a part of CKX, I have the resources to do three or four. Sillerman hopes thats a positive, not a negative. He made billions of dollars in two huge sales, but died in bankruptcy, pursued by the government and suffering the painful complications of a decade of throat cancer, eating out of a feeding tube and findingit increasingly difficult tobreathe. Backstage at The Ed Sullivan Show, 1956: Elvis with the host and manager Parker (left). When SFX began bursting at the seams, in no small part because of his mismanagement, Sillerman again reneged. I suppose there are all kinds of gratifying lines of work, he says. Then there are concert tours and merchandising. In June 2007, Sillerman told investors of CKX--a Nasdaq vehicle hed created with intellectual property rights to American Idol, Elvis Presley and Muhammad Ali--that hed pay $13.75 a share to take the company private. Read the original story on The New York . After the sale, Sillerman went on another buying spree, purchasing the rights to Graceland, the Elvis Presley Estate,Simon Fullers 19 Entertainment and an 80% stake in Muhammad Ali Enterprises. Brucie and Bob bought more stations and worked their magic on operations. Sillerman, the entertainment. Industrial Media. The company that emerged would become Clear Channel, which is now known as iHeartRadio. Elviss legendary manager, Colonel Tom Parker (a.k.a. I have a million ideas all the time, says Fuller, but before I could only do one a year. Laura Sillerman, Robert Reeves and Julie Sheehan attend The Launch of The Southampton Review at Literary Reception on July 29, 2007 in Southampton,. SFX grew into the nations seventh-largest chain and sold its 71 radio stations for $2.1 billion in 1998. An October IPO on the NASDAQ raised $260 million for the company with shares priced at $13, but in the space of two-and-a-half years, the price of the company dropped to a penny a share. That show is American Idol, and as with Elvis, Sillerman is convinced he can make it an even bigger deal than it already is. It was a very good, good combination, says Morrow. Clear Channel had integration issues with SFX, according to one analyst, and now plans to spin off that business by early next year. He also acquired a majority of the Presley estate, with the right to operate Graceland, the Presley home in Memphis; took over the company behind the long-running television hit American Idol; and acquired the rights to Muhammad Alis name and likeness. Not a clue. The house, formerly owned by Robert Sillerman, includes a 12,000. Despite this, the 67-year-old CEO said that he is the right man to run the troubled business and that he still wants to own the company even though he reneged on a plan to take it private earlier this month. This isnt the first time Sillerman has failed to live up to his word when trying to buy back a company he listed on the public markets. Mr. Sillerman was the founder, a major shareholder and served as Executive Chairman of SFX Entertainment from its inception in 1997 until its sale to Clear Channel Communications in August 2000. Sillerman was eventually pushed out of the company by creditors and it re-emerged as LiveStyle in 2017 with entertainment veteran Randy Phillips at the helm. In other words, distribution companies are falling all over each other to reach customers through new, competing outlets. What kind of person would grow up to have business dreams like these? Some $20 million. 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 and illegally diverting fund FORBES first started charting DJ earnings in 2012; a year later, the collective income of the top ten acts had doubled. All rights reserved. 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. Around that time Sillerman was diagnosed with tongue cancer and underwent chemotherapy, which sidelined him for several months. An entrance foyer leads to a chefskitchen, while a double-wide staircase leads upstairs to the first floors entertainment spaces: a living room, wood-paneled library, formal dining room, serving kitchen with a dumbwaiter and three of seven woodburning fireplaces. And Fuller is looking to bring a gritty nighttime soap opera that is popular in Britain to America next summer. That suit, led by dance promoter Paolo Moreno, alleges that Sillerman, who was completely unfamiliar with dance music, took the idea to acquire and combine global EDM companies from him and his associates after they had agreed to work with the businessman and Finkel. 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. Posh Spice). Sillerman became one of the most intriguingand wealthiestmen in music by twice betting on his vision for the future of mass media. Obviously the market had spoken loud and clear that it believed the five-and-a-quarter deal was never coming, said Sillerman in one of his first interviews since announcing the privatization plan. The companys chief Michael Rapino declined a request for an interview through a spokesperson. Robert F.X. 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