New York media mogul Robert F.X. Sillerman is the new entertainment king of Miami Beach after taking over almost all of the famous South Florida island-city’s glitzy, over-the-top nightclubs in a push to consolidate the fast-growing electronic dance music (EDM) industry.
Two Miami companies, The Opium Group and Miami Marketing Group, which own eight nightclubs, including LIV inside the historic, art deco Fontainebleau Hotel, were recently purchased by Sillerman, according to a spokesman.
The deals, in which terms were not disclosed, are the latest move by Sillerman to corner the EDM market, after saying in June last year that he was willing to spend more than $1 billion buying up EDM promoters and event organizers.
EDM is rapidly growing in popularity in the U.S. and abroad, popularized by nightclub DJs featuring acts by Lady Gaga, Katy Perry and Pitbull.