Tag: stereosonic

SFX: What Comes Next?

As we correctly predicted, and what is now widespread knowledge, the beleaguered EDM conglomerate SFX Entertainment has culminated a tumultuous few months with, what many felt was inevitable: a declaration of bankruptcy. Officially called a “Restructuring Support and Forbearance Agreement,” the music mega corporation will be forced to undergo a complete financial overhaul beginning with the stepping down of its CEO Robert Sillerman (who will instead be operating under the “chairman” title). This overhaul is one which relies on an ad hoc group to provide over $115 million debtor in possession fees, which would go towards paying the companies existing ... Read more

Drug-Stashing Men Arrested For Drilling Holes Into Planned Festival Site

Two unlucky men from Sydney were arrested in what is probably the most ironic drug bust imaginable: they were caught while drilling holes to stash drugs in at what is to be the festival site of Stereosonic, in order to avert any possible police/security check before entering the festival. The Police were called last Friday when a 21-year-old man was seen allegedly trying to drill a hole into a building to hide drugs. When confronted by security the man ran away and tried to escape the area. Police were called in who later seized 10 MDMA pills from his home, as well as removing an ... Read more