The North American electronic music industry might be in for a Dutch invasion of sorts. As EDM conglomerate SFX Entertainment continues to auction off the companies it purchased between 2012-2014 as part of its Chapter 11 bankruptcy restructuring, word has surfaced that Q-Dance founder Wouter Tavecchio will play an integral role in the company’s reformation.
A source revealed to Dutch publication De Telegraaf that Tavecchio might assume the leadership position in return for repurchasing the SFX shares he had previously sold. Bas Meijers of ID&T and Rocco Veenboer of Awakenings are also expected to finalize similar agreements over the next few weeks with the hope that their vested interest will provide incentive for them to work towards a favorable outcome for the company.
A source remarked that the new incarnation of SFX would be “a sort of ID&T-plus,” and another cited the success of last weekend’s Sensation White as evidence that the Tomorrowland Belgium promoter was among the current SFX’s only solvent assets. Interestingly, rumors published by Dutch magazine Q back in April suggested that Tavecchio would helm a relaunched ID&T headquartered in the Netherlands; whether or not the recent developments negate these claims remains unclear as no details of the negotiations have made it into SFX Entertainment’s bankruptcy court filings.
In addition, SFX founder Robert F.X. Sillerman’s role in the company’s future remains dubious. Even though the now incompetent media mogul was forced to resign as CEO on March 31st, he still holds a position on the board as chairman. He has remarked that the post-restructuring SFX Entertainment will be “a robust and successful enterprise,” and his ongoing involvement will depend in part on a July 20th court hearing during which a request to form a shareholder committee will be further deliberated.
As far as participants in electronic music culture are concerned, anyways, SFX’s potential leadership changes raise one big question: Does this mean TomorrowWorld will return to Georgia in 2017? Whether the company’s Dutch additions find it worthwhile to revive the brand despite its well-documented controversies will be unclear until well after the ink has dried on their operating agreements.
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