SFX Entertainment Announces End of "Go-Shop Period"

SFX Entertainment, Inc. SFXE ("the Company") today announced that the "go-shop" period set forth in the previously announced merger agreement entered into on May 26, 2015 by and among SFX Entertainment, Inc. and an affiliate of Robert F.X. Sillerman, the Company's Chairman and Chief Executive Officer, has expired. Under the merger agreement, the Company had the right to solicit alternative acquisition proposals from third parties during a "go-shop" period that expired at 5:01 p.m. on July 24, 2015. None of the third parties contacted by Moelis & Company LLC, as financial advisor to the special committee of the board of directors of the Company, provided the Company with a proposal or offer regarding an alternative acquisition proposal. However, the special committee and SFX Entertainment management received several indications of interest regarding the potential acquisition of various components of the Company's business. The committee and management are continuing to review these indications of interest. Unless an alternative transaction is proposed, reviewed and approved by the special committee, the previously announced merger transaction is expected to close during the fourth quarter of 2015, subject to the approval of SFX shareholders, as well as the satisfaction of certain customary closing conditions. Upon completion of the transaction, SFX will become a privately held company.