Even though we’ve been expecting to hear this news for quite some time, SFX Entertainment has filed for Chapter 11 bankruptcy protection. The bankruptcy plan filed by SFX Entertainment will not only erase $300 million in debt but also replace Robert Sillerman as acting CEO. For those unfamiliar with SFX Entertainment, SFX was founded by media entrepreneur Robert Sillerman back in June of 2012. Its holdings include ownership of various major electronic music promoters and festival brands, such as Tomorrowland, Beatport, Disco Donnie Presents, ID&T (75% ownership), Rock in Rio (50% ownership), Sterosonic, Voodoo Experience, TomorrowWorld, Electric Zoo, LIV nightclub,

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