It comes with five bedrooms and 5 bathrooms. As of December 2013, Viggle companies had a combined 17 million monthly users. 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. What would be the ultimate winning scenario for Sillerman? David Lieberman, "'American Idol' Owner CKX Sells To Financial Firm, Ending Robert F.X. 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. 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. Among them was former Beatport CEO Matthew Adell, who stepped down less than two years after selling his company for $50 million in early 2013. Sony Pictures Television Nonfiction (formerly known as CKX, Inc., CORE Media Group, Inc. and Industrial Media, LLC) is an American company founded on February 7, 2005, that owns and develops entertainment content and intellectual property . Sillerman, Concert Industry Consolidator, Dies at 71 By Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X. Im not very knowledgeable about real estate, he reportedly told the New York Post at the time. 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. SFX bought up enough stations to become the nation's seventh largest chain. How big will CKX become? Thats not part of our strategy.. Lisa Marie Presley, Elvis' daughter, had sold the majority of Elvis Presley Enterprises, . This company owned "American Idol" and the licensing rights to Elvis Presley and his Graceland estate. When things were going bad, he was looking for ways to try and make it work, Finkel said. However, since doubts of Sillerman's take-private began to emerge in July, the company hasn't disclosed a bona fide competing offer. . On Saturday, however, Sillerman was fielding questions on whether the company would go bankrupt--he said there was a zero percent chance--and admitting that he didnt work with the right people. Its also unclear if he was ever the right man for the job. He managed Annie Lennox and the Eurythmics, and then created the Spice Girls. 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. Even so, Sillermans 47% stake is worth some $400 million. On this Wikipedia the language links are at the top of the page across from the article title. (Photo: Robin Marchant/Getty Images). Robert Franklin Sillerman was born in Manhattan on April 12, 1948, to Michael McKinley Sillerman, a radio and television executive, and Estelle (Levande) Sillerman. He often named his companies using some combination of those initials. The founder of SFX Entertainment rarely spoke about the impact of his daughter's death but his friends say it weighed on him and changed his outlook. CKEs stock fell from a high of $28.80 in early May to a current price of $12 and change. You either have to grow or go down. In other words, Elvis is a classic buying opportunity: The underlying fundamentals are sound, but current management has been unable to take the business to the next level. At various points heated negotiations and lawsuits ensued between Sillerman and the likes of PaineWebber, Steinhardt Partners, and W.R. Huff, who alleged that Sillerman was trying to shortchange investors. Sillerman already has 18 acres on the Strip through MJX, a real estate company he controls. Hes obviously smart, and he doesnt b.s. Sillerman has a $1 billion plan to conquer the world of dance music, read the publications cover line. 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. Early rewards included gift cards to retail establishments. 19 is currently renegotiating the fee for next season, and some think the ante could be upped to $2 million per episode (though a reported flap over American Idol judge Simon Cowells compensation could be complicating matters). Andreas Cornelius van Kuijk), sold the rights to RCAnow part of Sony BMGdecades ago. Clear Channels stock, which hit a high of $95 in 2000, is trading at $32. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. He was 71. And get this zinger from Reids report: CKX apparently has the right to shut down impersonator shows. (Say it aint so!) 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. Read the original story on The New York . In 2001, Britains ITV put Fullers baby, Pop Idol, on the air. In some ways, thats good news for Sillerman and SFX: the cost of talent is no longer skyrocketing. 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. So in the middle of one night, Bob and I took off all of our clothes and ran back and forth in front of the glass naked. In February 2016, SFX filed for bankruptcy, brought down in a cash crunch that Estopinal now partially blames on overpaying for the assets that came to make up SFX. Robert, who grew up in the Riverdale section of the Bronx, was born on the third anniversary of the death of Franklin D. Roosevelt, and his original middle name was a tribute to the former president. The truth is, for all of Elviss transcendent mystique, EPE has never been much of a business. Nearly three years ago, Robert F.X. The Bolshoi Ballet came en masse to Graceland, Soden recalls. And thats just part of the American Idol money train. Pei through the hallowed halls. Once on the Forbes 400 list, . [39], On November 24, 2019, Sillerman died at the age of 71 after a respiratory illness.[40]. What was most impressive about his $389 million deal with Westinghouse (which was convinced that it needed to become a big player in the business) in 1989 wasnt that it was his biggest score ever; it was the fact that the market for radio stations tanked soon after. He is from USA. Besides buying Elvis Presley Enterprises from Lisa Marie Presley last February, Sillerman and his lieutenants have purchased the smash-hit TV show American Idol and other properties from a company called 19 Entertainment, which was owned by British pop impresario Simon Fuller. And then in early 2000, lightning struck again. Embattled music executive Robert Sillerman, who founded the company that would eventually become ticketing and concert giant Live Nation, has died at the age of 71. In February 2014, a lawsuit was filed against Sillerman, for allegedly having defrauded a trio of business partners. 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. Robert F.X. Because American Idol is whats known as event programming, meaning that because its a contest, you almost have to watch it live. Mr. Sillerman called it an inside joke. Contestants on the new Fox hit So You Think You Can Dance.. We dont have enough time on this call to talk about the mistakes I made, said Sillerman during a 30-minute phone conversation from his New York City home, his voice gravelly and occasionally interrupted by a breathing apparatus due to a past bout with tongue cancer. Sillerman. Young Sillerman graduated magna cum laude from Brandeis in 1969 after becoming immersed in counterculture politics and rock & roll. Bob can sell anythingit doesnt matterhe has that kind of head. (Morrow says it was he who enlisted Sillerman, not the other way around. Sillerman, the founder of SFX Entertainment, has died at the age of 71 due to respiratory illness. 2023 Billboard Media, LLC. When Mr. Sillerman tried to corner the fractious world of dance music festivals in the early 2010s, for example, he played the part of a devil-may-care rebel to a sometimes puzzling extent. 19 also manages the career of soccer superstar David Beckham and his wife, Victoria (a.k.a. In December 2016, former SFX board member Mitch Slater sued Sillerman for an unpaid $2.5 million loan from 2015. 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 was an executive. Sillerman, Concert Industry Consolidator, Dies at 71 Roy Trakin November 26, 2019, 6:02 PM Click here to read the full article. 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. When SFX went public in Oct. 2013, businesses the company owned or was in the process of acquiring earned $14.6 million in adjusted EBITDA on combined revenue of $239 million. 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. Once on the Forbes 400 list, he also briefly owned the WLAF's New York/New Jersey Knights. PHOTOGRAPH BY GREG MILLER. SFX now has a market capitalization of $88 million. But instead of a billion-dollar acquistion, Sillerman wiped out hundreds of millions in investor money and eventually had to file for bankruptcy. AI Is Creeping Into the 'Functional' Music Market What H Meet the Women in Music Honoree Who Escaped the Iron Curtain, Bright Eyes Return to the Road With Eight-Date U.S.Tour, Brandi Carlile, Trey Anastasio & Stick Figure To Headline 2023 LevitateFestival, British Indie Rockers Lovejoy Announce 20-City U.S.Tour, It Takes a Lot of People to Create All This AIMusic. Well, its a little early to ask that question. Really? He died on November 24, 2019 in Hinsdale, New Hampshire, USA. Backstage at The Ed Sullivan Show, 1956: Elvis with the host and manager Parker (left).CBS Photo Archive/Getty Images. In 1989 he sold a group of radio stations to Westinghouse (now Viacom) for $389 million. By the time Mr. Sillerman began buying radio stations in the late 1970s, he was using a new name: Robert F.X. CKX also gets the publishing rights to 650 songs, but owns the more valuable royalty rights to only the few songs Elvis recorded after 1973. Robert Sillerman, founder of SFX Entertainment, has died, Billboard reports and Sillerman's lawyer Sanford Philip Rosen confirmed to Pitchfork. Then, Lisa says, the failure of the Elvis Presleys Memphis restaurant on Beale Street in 2003 made matters urgent. But where did it go wrong for SFX? Meet the Women in Music Honoree Who Escaped the IronCurtain, Manson Accusers Recantation Cant Be Used for Now in Case Against Evan Rachel Wood, JudgeSays, Fadia Kader Joins Venice Music as EVP &GM. 1 show on television, drawing some 30 million viewers, which is great, but it means that fewer than one out of ten people in America watch it, Sillerman says. And there are a couple of Sillerman stories that involve nudity. 2023 Fortune Media IP Limited. But an informed source says that Lisa Presleys spending habits were also an issue: She had been running through $5 million to $7 million a year, amounts that closely matched the annual net income of EPE. Viggle registers the television show a person is watching, and engages the users with a loyalty program for viewing particular programs. As a subscriber, you have 10 gift articles to give each month. I meet the people whose places we're buying. 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. At Fridays price of 91 cents, SFXs shares are down 93% from its IPO price. [22][23][24], On October 9, 2013, SFX went public on the Nasdaq. That business was built from a spree of acquisitions from 1997 to 2000 when Sillerman bought up Houston outfit Pace Concerts, New York promoter Delsener/Slater enterprises, Boston big man Don Laws Blackstone Entertainment, Los AngelesAvalon Attractions, Jack Boyles Cellar Door International, Bill Graham Presents in Northern California and Jimmy Koplicks 4,800-seat Oakdale Theater in Wallingford, Connecticut. SFX raised $260 million in its initial public offering. Can we monetize that? It runs in the family: Lisa Marie Presley signs autographs for NASCAR fans at Daytona Speedway this past July.Jeff Gross Getty Images, Sillermans latest publicly traded corporate incarnation is called CKX. Not bad for a years work. Robert F.X. To Sillerman the soft patch was an opportunity to reload. Hes like a little boy. While some might find that a 25th wedding anniversary is best celebrated privately, Sillerman held his at the Manhattan rock hall Irving Plaza with hundreds of guests. It declared bankruptcy in 2016, and many of the assets it had amassed were sold off. DJ Afrojack (left) and Sillerman at the NASDAQ MarketSite in New York in 2013. Those companies promised two things. In May 2009, Credit Suisse filed a request for summary judgement in New York State Supreme Court, alleging Sillerman had failed to pay the . Sillerman has passed away at age 71, according to The New York Times. A version of this article was originally published in the December 12, 2005 issue of Fortune. [32], From 1993 Sillerman served as the Chancellor of the Southampton College of Long Island University, replacing Angier Biddle Duke. The last thing well be thinking about is margins, Sillerman told FORBES in July 2012. 1 hit in more than two dozen countries, including the U.S.) And Elvis impersonators are still fixtures in everything from movies to corporate events. Sillerman had no intention of consolidating the EDM industry before he met Paolo Moreno in January 2012, said Steven Feldman, a Hueston Hennigan LLP attorney representing Moreno and two other plaintiffs. And because Sillerman was known as a savvy business mogul within the entertainment industry, his faith in the Company was interpreted as evidence that SFX was in fact valuable, even if that value was not yet reflected in the Companys financial reports, McMahon wrote. I dont know whether its directed at a specific individual, or a type of individual, or more as my interpretation of Albert Einsteins fabulous quote: No problem can ever be solved from the same level of consciousness that created it. And thats what Ive done my whole life. Only Mike Darnell [at Fox] got it straight away., Man in the middle: Simon Fuller (in back) with Idol stars Kelly Clarkson, Ruben Studdard, and Fantasia Barrino.Ray Mickshaw WireImage/Getty Images. It was a smash right off the bat. 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. Then there are concert tours and merchandising. He was also starting to run afoul of the SEC an audit by the firm BDO of his company Function(x)found that Sillerman allegedly broke the law when he transferred $6.1 million into his own personal account and withdrew $500,000 in cash with no explanation and no supporting documentation. Sillerman settled the case with the SEC in June, agreeing to a $179,000 fine and a ban from holding an officer or director role at any public company. Nearly three years ago, Robert F.X. CKX Inc. has been flying under the radar despite owning stakes in some of the biggest pop culture icons of our time, including "American Idol," Elvis Presley . We cured him. By 1985 the pair had accumulated some 70 stations, which they sold for some $50 million. He bankrolled Mel BrooksBroadway production of The Producers and was golf partners with NBA legend Michael Jordan. The second floor boasts two main bedroom suites with ensuitemarble bathrooms, woodburning fireplaces and a large planted terrace. A brash figure in the financial pages, he bought and sold lucrative radio and concert businesses and controlled the Elvis Presley estate. Robert F.X. Thats the whole game., Robert F.X. As a teenager he started his own greeting card company, buying cards in bulk and enlisting youngsters to sell them. In characteristic form, Sillerman wont give investors any firm commitments. The transaction renamed the company to Function (X), Inc. and changing its listing on the stock exchange to FNCX. Jeopardy, Wheel of Fortune, The Price Is Rightthese shows go on for decades. This past season American Idol ratings averaged over 27 million viewers per episode, up 5% from last season. He also made money on Broadway as an executive producer for Mel Brooks' musical The Producers. Despite having established brands, the festivals that were acquired by Sillerman's empire collectively moved in the opposite direction of what was expected. 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.. He refounded SFX Entertainment in 2012 as a promoter of electronic music festivals; that company is now known as LiveStyle. I ask Lisa about Sillermans plans. (Hicks Muse agreed to spin this business off to SFX shareholders.) The payment will no doubt make it easier for Sillerman to call Priscilla up and ask her to come to a ribbon cutting of a new Elvis property, for instance. 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