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SFX Renames Agents’ Businesses

December 13, 1999

WASHINGTON (AP) _ SFX Entertainment Inc. is renaming the 14 sports’ businesses it has bought, including the firms of agents David Falk, Alan and Randy Hendricks and Arn Tellem.

Falk, the agent for Michael Jordan, will be chairman and chief executive officer of the SFX Sports Group. Bill Allard, the former president of Proserv, one of the acquired companies, will be president and chief operating officer.

By renaming the various businesses, SFX hopes to develop a brand name. It likely will not change how the agents run their companies or their relationships with the clients.

The baseball and basketball agents will report to Ivan Blumberg, a former Proserv executive, who will be president of talent representation.

Mike Trager, a co-founder of the Marquee Group, another acquired company, will be president of television.

Frank Vuono, a co-founder of the marketing company Integrated Sports International, will be president of marketing, and Bob O’Connor, a former executive of Sports Marketing and Television International, will be president of events.

SFX bought out Falk last year for about $80 million cash plus what is now 2 million shares of stock, which is worth about $66 million if he hasn’t sold it.

This year, it bought out the Hendricks brothers for $15.7 million, plus $5 million in deferred payments and the chance to earn additional bonuses. It recently bought the business of Tellem. The price of that deal isn’t yet known.

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