SFX Entertainment, which hoped to ride the boom of electronic dance music to become a music industry giant, filed Monday for bankruptcy protection as it sought a fresh start. The company founded by music mogul Robert Sillerman announced a deal that would eliminate more than $300 million in debt. Subject to court approval, SFX Entertainment will receive up to $115 million from a group of bondholders to maintain normal operations.
While "Grease Live! (Music From the Television Event" sits in fifth place on the February 1 iTunes chart, it's Jordan Fisher's performance of "Those Magic Changes" that's the OST's most in-demand single.