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Management Firm TMWRK Leaves SFX

LOS ANGELES (VIP NEWS) — SFX chairman and CEO Robert Sillerman`s troubled dance event company has now parted ways with management company TMWRK that has bought itself out of the SFX brand.

TMWRK has paid $3.6m for its ownership rights.

SFX purchased TMWRK, home of Diplo and many other EDM artists, in 2014.

Regardless, the company`s leadership isn`t going to change just yet. At the annual SFX investors meeting on December 28th, shareholders unanimously approved Sillerman and seven other board nominees.

SFX recently hired investment bank Moelis & Co to look at ways of cutting the company`s debt.