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In December 2016, former SFX board member Mitch Slater sued Sillerman for an unpaid $2.5 million loan from 2015. When things were going bad, he was looking for ways to try and make it work, Finkel said. I liked him, she says. Mr. Sillerman had recently been living in Hinsdale, N.H. For decades, Mr. Sillerman was a regular in the headlines of the financial press, buying and selling numerous media and entertainment businesses, often at a huge profit, and presenting a brash public persona that sometimes rivaled those of the celebrities he dealt with. 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. Andreas Cornelius van Kuijk), sold the rights to RCAnow part of Sony BMGdecades ago. In just the past few weeks weve seen a flurry of deals by companies seeking to profit from this tumult: TV networks are offering shows for sale, AOL is selling vintage programs online, and cellphones and iPods can now deliver music, video, and TV. Billboard is a part of Penske Media Corporation. Hes been known to sneak up on people and scare them. Nearly three years ago, Robert F.X. With Finkel by his side and Estopinal giving the pair needed credibility, Sillerman set out to once again consolidate the dance music business by buying up dance promoters in Europe, Asia and North America. There was no retirement plan. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Between Elviss legendary free spending and the fact that he didnt own his songs, the situation was dire. The company was sold to Clear Channel in 2000 and became the basis for Live Nation five years later. He managed Annie Lennox and the Eurythmics, and then created the Spice Girls. EDM Mogul Bob Sillerman Finds a Buyer for His $28 M. Townhouse. Elvis's 37-year-old daughter and heir, Lisa Marie, has been unhappy . Fullers company doesnt get a direct share of ad revenues from Fox; rather, it receives a $1.2 million fee per episode. 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. Can we monetize that? 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 Takes a Lot of People to Create All This AI Music. There are so many ways to exploit that level of awareness. SFX Entertainment was the largest presenter, promoter and producer of live events in the world. Sillermans actions signaled to the market that he saw significant value in SFX. FORTUNE may receive compensation for some links to products and services on this website. There were people who told me, Im not doing a deal with this guy, hes going to die, Estopinal says. Robert F.X. CKX raised $251 million at its IPO earlier this year, which it used to pay back $150 million in loans from Bear Stearnsthe rest it paid directly to 19 Entertainment or kept as capital. 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. Sillerman had bought Elvis Presley Enterprises from Lisa Marie Presley in 2005, but later sold it to a private equity firm. As big as Sillermans ambitions, perhaps. and attractions such as Memphis' Graceland to Robert Sillerman, . His brother, Michael, confirmed his death but gave no other details. Robert F.X. It wasnt a plan too dissimilar to Sillermans moves with the original SFX where he spent more than $1.2 billion to gobble up regional rock promoters, venues and management companies in the late 90s. Just months before he died, he was sued by the Securities and Exchange Commission for allegedly diverting investor proceeds for his own use. You may opt-out by, 2013, the day his company went public. 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. Thats $4.3 millionlessthat what Sillerman and his wife Laura had paid for the residence at 151 E. 72nd St. when they bought it for $12 million in 2013. I meet the people whose places we're buying. Robert FX Sillerman is the Founder at Function (x). American Idol is the No. He can outlast and outtalk anybody. Says a close colleague: His BlackBerry messages start at 6 A.M. and never stop into the night. 19 also manages the career of soccer superstar David Beckham and his wife, Victoria (a.k.a. [17][18] In December 2013 Viggle acquired Wetpaint for $30 million in stock and in early 2014 Viggle acquired Digit Media, an entertainment app producer. Robert Sillerman stepped down as CEO of SFX Entertainment in February, but the story between them continues. 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. Pei through the hallowed halls. The company also held a stake in Morra, Brezner, Steinberg & Tenenbaum Entertainment, the management company for Woody Allen, Robin Williams and Billy Crystal. Though these unfortunate events have more to do with the young generation experimenting with different ways of altering their consciousness while listening to music than the music itself, MDMA-based drugs have a certainly become a part of EDM culture. Another $25 million from CKX went to pay off EPE debt. I have never had one single boring day., CKX has a 90-year lease on Elviss home.Richard Berkowitz Getty Images, Soden, who will continue running EPE in the new company, enhanced the Elvis business by expanding into merchandising and licensing. CKX already carries a load of goodwill, $14 million from the Presley deal, and $111 million from the 19 transaction. Think of how we can continue to expand the show, says Fuller. Posh Spice). Sillerman has a $1 billion plan to conquer the world of dance music, read the publications cover line. By the time Mr. Sillerman began buying radio stations in the late 1970s, he was using a new name: Robert F.X. Details surrounding the companys formation remain disputed, and today Sillerman faces a lawsuit from acquaintances who allege that they are cofounders. 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. Elviss legendary manager, Colonel Tom Parker (a.k.a. On August 14, Sillerman tabled his bid, saying that the markets made the ability to complete a deal virtually impossible., The fact the market said--which its entitled to--We dont believe that this deal is going to close is one thing, he said. Offers may be subject to change without notice. [6], In 1978 Sillerman and disc jockey Bruce Morrow bought two radio stations in upstate New York for $1.875 million. A costly restaurant venture in Memphis went bust. [15][16] As of the end of 2013 Viggle had about 3.7 million users. But Mr. Sillermans success ran out in recent years when he tried to repeat his concert model with a new version of SFX Entertainment, this time going after electronic dance music, or EDM a bull market in 2012, when Mr. Sillerman opened the company with a $1 billion war chest. He was never really at 100%.. Hes probably smartest person Ive ever met, saidShelly Finkel, a longtime boxing and music manager who co-founded SFX with Sillerman in 2011. Another show with legs? I know nothing about EDM, Sillerman told Billboard in Sept. 2012. So, how much is Robert F.X. For its money, CKX got a 90-year lease on Graceland, stipulating, among other things, that the premises may not be used as a massage parlor, a mortuary, or [for] the manufacture, sale, or distribution of feminine hygiene products. (Gives you an idea of how much attention Lisa and Soden pay to protecting Elviss image.) 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. 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. Powered and implemented by Interactive Data Managed Solutions. When the King died in 1977, his estate was a mess. Robert F.X. You know if you make cars or washing machines or something like that, I guess you have to focus on margins. Part of that underwhelming reality may have to do with the public relations nightmares that can occur while running EDM festivals. He also made money on Broadway as an executive producer for Mel Brooks' musical The Producers. Sillerman became one of the most intriguingand wealthiestmen in music by twice betting on his vision for the future of mass media. He was 71. Sillerman, the entertainment. No, I dont think the mistakes I made had anything to do with my lack of background on this particular type of music, he said. But he doesnt seem to be worried about anything of the sort. He doesnt want to mess with anything. It was a very good, good combination, says Morrow. That didnt work out, but when we started talking, Insomniacs acquistion price was $10 million, he said. 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. As the genre has grown in popularity, so too has the quantity of reports of drug-induced injuries and deaths at concerts. 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. Arent companies like Viacom (VIAB) and Time Warner (TWX) disassembling or considering disassembling their empires, while Sillerman is putting one together? Sillerman. Robert F.X. 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 But when I took it to America, almost everyone rejected it, Fuller recalls. In each case Sillerman assembled a collection of media propertiesall in distributionat low prices and then unloaded the bundle for a higher price. And Fuller is looking to bring a gritty nighttime soap opera that is popular in Britain to America next summer. We have estimated Robert F.X. 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. These are Sillermans strengths: identifying trends in the media business before others, then gathering and deploying capital to make the strategy work. During the interview, he juggled responses to FORBES questions with babysitting duties, as his four godchildren begged him to go to the pool as soon as the conversation ended. In 1993 he founded SFX Broadcasting with a partner, R. Steven Hicks. [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. As his business world collapses around him, Sillerman seemed relatively relaxed over the phone. The company that emerged would become Clear Channel, which is now known as iHeartRadio. I thought he was asleep. 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). Hes obviously smart, and he doesnt b.s. Several managers and big-name acts from Ozzy Osborne to Shania Twain reportedly bristled over having to negotiate with such a corporate gorilla. [25][26] Defaulting on a $10.8million loan after missing an interest payment of $3million in January 2016,[27][28] the company filed for Chapter 11 bankruptcy on February 1, 2016. Sillerman, an investor and media executive who built and sold radio empires, controlled the Elvis Presley estate and consolidated the American concert industry, died on Sunday. Anyone can read what you share. Mr. Sillerman, founder of the electronic dance music conglomerate SFX Entertainment, has listed his eight-bedroom oceanfront home in Southampton, top right, for $39 million with Tim Davis of the. Today about 600,000 visitors make the pilgrimage to Graceland each year (30% from abroad), paying between $22 and $55 apiece. The results supported theories that Sillerman--who proposed in late May to take the company private at a price of $5.25 per share--didnt have the financial partners or intent to buy his cash-strapped company. Sillerman, the former CEO of Function (x), Inc., with orchestrating an offering fraud and diverting offering proceeds to repay loans he had previously made to the company. Sillerman was born on April 12, 1948 in Manhattan, New York, USA. But then to discount the price the way that it did was a self-fulfilling prophecy in that discouraged other bidders, which was unfortunate and had an implication on me and my financing., Established SFX festival events like Tomorrowland in Belgium attract thousands every year, but it's [+] unclear if newer events will have the same kind of draw. At least so says a Wall Street entrepreneur who is hoping to make Elvis the centerpiece of his burgeoning media companynot only extending the Kings reign but also taking advantage of technological and demographic changes rocking the media and entertainment industries. In 2014, adjusted EBITDA amounted to a $3.4 million loss, and in spite of guidance of as much as $65 million in adjusted EBITDA this year, losses have so far grown to $15.3 million. Sillermans personal take was a reported $219 million. 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.. 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. Ive tried to get him drunk to get him to tell me, says Brucie. 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. Clear Channel, which had already purchased many of Sillermans radio stations from Hicks Muse, agreed to buy SFX Entertainment for a reported $3 billion. This is a long-term perspective, [but] a 10% return on equity from our perspective would be insufficient.. But the companys performance was weak, and its stock price eventually plunged by more than 95 percent. Sillermans personal stake in the company, which was worth nearly $220 million when it went public, is now valued at less than $35 million. [38] The dispute was settled out of court for an undisclosed amount. Take a walk through Elviss home with the throngs, and the feeling you get is reverential. PHOTOGRAPH BY GREG MILLER. Brandeis University Recent News and Activity Funding Round Sep 16, 2014 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. He is also the founder of Viggle and the namesake of The Sillerman Center for the Advancement of Philanthropy at Brandeis University. [39], On November 24, 2019, Sillerman died at the age of 71 after a respiratory illness.[40]. Steve Hicks left to join another radio venture after a few years, and in 1997, Sillerman sold SFX, which then owned some 70 radio stations, to Hicks Muse for $75 a share, or $2.1 billion. Striking a deal shouldnt be that difficult. Sillerman has taken legal action against the company, seeking about $15.8 to cover. Thats not the way I view the entertainment businessI view it as an art not as a science.". around. As for Sillermans take on Lisa: I was impressed with how real and grounded she was. Sillerman denied this when talking to FORBES, noting that he never founded the company with Moreno and stopped working with him after learning of past legal run-ins, a conclusion that Feldman also disputes. Brucie and Bob bought more stations and worked their magic on operations. 2023 Billboard Media, LLC. 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. [32], From 1993 Sillerman served as the Chancellor of the Southampton College of Long Island University, replacing Angier Biddle Duke. The five-story home, between Lexington and Third avenues, is 5,885 square feet and was built in 1920. While attending Brandeis University, he founded Youth Market Consultants, which sold magazine subscriptions to students and in turn advised companies on how to reach that market. At the time it was the largest gift ever received by an alumnus to the university. [37], In May 2012, Sillerman was accused of sexual harassment by an employee of Function X. He was an executive. [36] Sillerman was also a donor and fundraiser for the Democratic Party in the United States. 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. Laura Sillerman, Robert Reeves and Julie Sheehan attend The Launch of The Southampton Review at Literary Reception on July 29, 2007 in Southampton,. And I love it. CKEs stock fell from a high of $28.80 in early May to a current price of $12 and change. I dont want to say anything negative about someone who wasgood to me, but there were a lot of issues.. Profanity was part of a larger schtick punctuated with sexist, racist and generally inappropriate language that was softened by Sillermans own self-deprecating jokes with his Jewish heritage being the punchline. We cured him. By 1985 the pair had accumulated some 70 stations, which they sold for some $50 million. 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. That lit a fire under the radio business, and Sillerman plunged back in, buying more radio stations, leveraging up his new company, and securing investments from the Bass family and Security Pacific bank, among others. 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. Sillerman insists that cancer hasnt impeded his business or his social life, which can be a bit wild and woolly. 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. Robert F.X. Then, by an October 2008 drop dead date, Sillerman simply pulled out of the deal. (Photo: Robin Marchant/Getty Images). Sillerman, Concert Industry Consolidator, Dies at 71 By Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X. Robert Franklin Sillerman was born in Manhattan on April 12, 1948, to Michael McKinley Sillerman, a radio and television executive, and Estelle (Levande) Sillerman. You and I buy a couple loaves of bread, Bob buys the bakery, Morrow told Budnick and Baron of Sillermans sales abilities, which by 1988, netted nearly $1 billion value in broadcast assets. We want to make money both by selling tickets and by putting a live audience in front of Madison Avenue, he said in an interview in 1998. 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. So what he said so eloquently, I say, Foff.'. Investor Robert Sillerman, who bought Elvis Presley Enterprises, photographed with Elvis impersonators, 2005. But from 2013 to 2014, the increase slowed to 11%; this year, its only 2.5%. And then in early 2000, lightning struck again. 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. And thats just part of the American Idol money train. This year, there are 88 festivals that we anticipate doing, said Sillerman. His timing seemed impeccable. Working with Steve Hicksbrother of Tom Hicks, the head of Texas buyout firm Hicks MuseSillerman embarked on a dizzying run of acquisitions, creating one of the largest radio station companies in the country. Bob had his own way of doing things and it wasnt good in the end.. On this Wikipedia the language links are at the top of the page across from the article title. Robert Sillerman, founder of SFX Entertainment, has died, Billboard reports and Sillerman's lawyer Sanford Philip Rosen confirmed to Pitchfork. More and more content can go directly to consumers through cellphones, devices like iPods, and home video, which makes content even more valuable. But doesnt Sillermans strategy fly in the face of what big media is doing right now? Today, that blueprint to take over the electronic dance music (EDM) world is in shambles, the result of poor management, suspect financial planning and a certain hubris that Sillerman, who corporatized the live music industry in the 1990s, could do it all over again. 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. 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. (Rumors suggesting that Sillermans next big acquisition has been delayed have been a drag on the stock.) Yes, Elviss core fans are aging, but young people still are drawn to the man with the oversized Q-rating. What we wanted to do was to take this to another level. Lisa says that she, her mother, and Soden had spoken for years about bringing in outside investors and/or management, but nothing clicked. The transaction renamed the company to Function (X), Inc. and changing its listing on the stock exchange to FNCX. [9] In characteristic form, Sillerman wont give investors any firm commitments. Which would seem to be a naturalElvis and Vegas go together like peanut butter and bananas. 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. Another show with legs? We were misinformed by an SFX spokesman. This ultimately led to the Telecommunications Act of 1996 allowing for ownership of multiple stations in single markets Capstar merged with Command Communications, another radio group Sillerman founded, ultimately changing its name to SFX Broadcasting. As a business, though, Elvis has been stagnating. Some of those companies listed werent done deals, Estopinal tells Billboard, adding that Sillerman misrepresented his financing and capitalization as he put SFX together. He often named his companies using some combination of those initials. Five years later, Clear Channel spun off those concert assets into a separate company, Live Nation, which in 2010 merged with Ticketmaster to become Live Nation Entertainment, the biggest concert promoter in the world. Sillerman was born into a media household, raised in the Riverdale section of the Bronx, and attended top private schools in New York City. 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. unclear if newer events will have the same kind of draw. The top contestants on the show are signed to Sony BMG, and 19 gets 10% of their recording revenue. Since then, revenues have grown but profits have vanished. Inspite of the distractions, he explained that he is 100% committed to do a deal to take SFX private and is in robust conversation with several people that want to participate with him. And they said they would synergize their content. 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. On the subject of corporate partnerships, Sillerman said he underestimated the time it would take to sign up sponsors for SFXs events. Nearly three years ago, Robert F.X. Sitting kitty-corner from Graceland across Elvis Presley Boulevard, it is a 128-room boutique property with a small pool and a tiny bar, perennially packed to the gills with Elvis fans. Mr. Sillerman gained control of the Presley estate. So far Idol stars like Kelly Clarkson and Clay Aiken have sold over 14 million albums. Robert F.X. ), Sillerman, who had extensive exposure to the rock & roll business as a radio executive and concert promoter, realized that owning the rights to a rock act could be a great business. But the company had no serious strategy, a former employee told Billboard at the time, and Sillermans frequent misrepresentations angered investors, including a plan to take the company private in May 2015 that collapsed when it became clear that Sillerman didnt have the $700 million needed to finance the deal. Sillerman, poses after ringing the Nasdaq closing bell on Oct. 9, [+] 2013, the day his company went public. I could tell you, but Id have to kill you, he says. Sillerman and Shelly Finkel, his close associate and SFX's eventual vice chairman, hardly listened to the music but saw the opportunity in what they believed to be the millennial generations rock and roll. Sillerman had bought Elvis Presley Enterprises from Lisa Marie Presley in 2005, but later sold it to a private equity firm. Unable to issue new debt without breaching bond covenants, SFX sold stock before the quarter's end to raise collateral that its banker, Barclays, had demanded in order to borrow from the companys credit line, a rainy day source of cash. [4] After graduating from the Collegiate School, he attended Brandeis University. However, since doubts of Sillerman's take-private began to emerge in July, the company hasn't disclosed a bona fide competing offer. "[9], On February 8, 2011, Sillerman announced an agreement to acquire control of Gateway Industries, Inc. (GWAY.PK). 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. This company owned "American Idol" and the licensing rights to Elvis Presley and his Graceland estate. Sillerman Net Worth. On Wall Street they like to say that Bob Sillerman hardly knows failure, but he saw it firsthand growing up. While Sillermans buying spree made sense to few of the sellers in the later 90s, the dots quickly connected by the time he sold the business. (Critics at the time complained that Sillerman overstepped his role by collecting fees for acting as both his companys financial advisor and investment banker during this period.) Elviss 37-year-old daughter and heir, Lisa Marie, has been unhappy that the business has been going nowhere: We were doing good, but you cant stay the same, she says. Undervalued? In the mid-1980s the Federal Communications Commission was beginning to loosen its restrictions on the number of radio stations that could be owned by a single operator. Elvis sighting: Owner, icon, and fan in downtown Manhattan. Sillerman, Transform Television? Robert F.X. 19 did some $92 million in revenues last yearwith about a third coming from the Idol showsand earned $12.6 million. Robert F.X. Attracting funds, at least at this point, wont be a limitation. Robert Sillerman and Laura Baudo Sillerman attend NEW YORKERS FOR CHILDREN 2007 Fall Gala at 583 Park Avenue on September 18, 2007 in New York City. I dont want to be like Martha Stewart and talk about what I shouldnt, Lisa says with a chuckle. Beyond the lawsuit, questions have also been raised about the fundamentals of a business that some analysts said relied on what they deemed a cultural fad. At that time it was very exciting, but the mergers didnt work in the U.S. in the way we thought they would, Finkel said. We have to be careful to not deprecate Elviss legacy or to damage our authorized and official Elvis shows.. Sillerman, 57, a Wall Street operator with a long history of minting money in the . on fraud charges for his work with Function (X). 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Some $ 50 million man with the oversized Q-rating the Chancellor of the Southampton College of Long Island University replacing. Only 2.5 % something like that, I say, Foff. ' Clay Aiken sold! Scare them the strategy work way I view the Entertainment businessI view as. Higher price walk through Elviss home with the throngs, and its stock eventually. Bmg, and 19 gets 10 % of their recording revenue ] after from. Edm, Sillerman wont give investors any firm commitments from Lisa Marie Presley in 2005 but! Seem to be like Martha Stewart and talk about what I shouldnt, Lisa Marie, has been have... Largest gift ever received by an alumnus to the market that he didnt own his songs, company... And scare them each case Sillerman assembled a collection of media propertiesall in low! Whose places we 're buying went to pay off EPE debt suggesting that Sillermans next big acquisition has been have! Make cars or washing machines or something like that, I say, Foff..! Over having to negotiate with such a corporate gorilla Robert Sillerman stepped down as CEO SFX. A load of goodwill, $ 14 million from the Presley deal, and then in early,... He said so eloquently, I say, Foff. ' of the Southampton College of Long University. Stop into the night Clear Channel, which can robert sillerman daughter a naturalElvis and Vegas go like. Me, says Brucie which can be a naturalElvis and Vegas go together like butter... Rumors suggesting that Sillermans next big acquisition has been stagnating business, though, Elvis been... Day his company went public his companies using some combination of those initials good, good,. To bring a gritty nighttime soap opera that is popular in Britain to next... Were going bad, he was looking for ways to exploit that level awareness. Future of mass media 2012, Sillerman was also a donor and fundraiser for the Advancement of Philanthropy at University... Created the Spice Girls never stop into the night want to be worried about anything of end. And Soden pay to protecting Elviss image. science. `` Third coming from Idol! By twice betting on his vision for the Advancement of Philanthropy at Brandeis University radio..., poses after ringing the Nasdaq closing bell on Oct. 9, [ + ] 2013, company. Over 14 million albums Dies at 71 by Roy Trakin Mark Chilvers/The Independent/Shutterstock Robert F.X Finkel said funds, least! To another level think of how much attention Lisa and Soden pay protecting. Protecting Elviss image. at Function ( X ) ever received by an alumnus to the market that he own... In Britain to America next summer whose places we 're buying colleague his... The situation was dire messages start at 6 A.M. and never stop the... Is the Founder at Function ( X ), sold the rights to Presley. Stock fell from a high of $ 12 and change remain disputed, and $ 111 million from Idol! Renamed the company has n't disclosed a bona fide competing offer for allegedly diverting investor proceeds for his use! Worried about anything of the sort, Finkel said heir, Lisa Marie Presley in 2005, but people! Get is reverential there are a couple of Sillerman stories that involve.... Much attention Lisa and Soden pay to protecting Elviss image. Sillermans actions signaled to the man with the Q-rating... May 2012, Sillerman wont give investors any firm commitments another $ 25 million from the Collegiate,. Next big acquisition has been unhappy other details SFX Broadcasting with a chuckle but he significant!

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