Originally published on Wed February 27, 2013 5:04 pm
Beatport, one of the most popular online stores for fans of dance music, has been bought by SFX Entertainment, a company that has invested heavily in the dance music business over the past year. According to sources with direct knowledge of the deal, the company was sold for around $50 million.
"[With this purchase] you now have a great one-stop shop for consumers of dance music," says SFX Entertainment CMO Chris Stephenson.
Founded by brothers Rev. Gean West and Tommie West, The Relatives first surfaced in the 1970s with the single "Walking On." With its rhythmic fusion of traditional gospel and psychedelic funk, the quintet became known for its energetic live performances. However, the group disbanded in 1980, disappearing from the music world without so much as a full studio album to its name — until now.
Tomorrow in this hour, we'll talk with Ron Elving about the looming automatic budget cuts. What questions do you have about the sequester? We'd especially like to hear from those of you who maybe affected. You can email questions to us now: email@example.com.