Live music events company, SFX Entertainment, has recently announced that they will not in fact be selling Beatport.

The company responsible for a wide range of festivals, including Electric Zoo and Mysteryland has had a devastating year financially. SFX Entertainment filed for Chapter 11 bankruptcy in February, and CEO Robert Silliman stepped down shortly after taking the company private. This uncertainty led to the cancellation of TomorrowWorld and the closure of all of Beatport’s services, except for the digital webstore.

Despite great uncertainty in recent months, in an interview with Mixmag, SFX stated that downsizing Beatport “dramatically improved its profitability,” and that selling it was no longer necessary.

(Thump)