The online music store is being sold to the highest bidder.

Bankrupt EDM company SFX Entertainment is in negotiation to auction off key asset Beatport, Billboard reports.

According to a recent court filing, SFX has spoken to 24 interested parties about buying the online music store, with bids on the company due by April 28.

The auction, which is due to take place on May 3, is accepting bids in increments of no less than $250,000. The winning bid will be confirmed on May 5.

According to Billboard, SFX is also looking to sell marketing agency Fame House, which represented Josh Wink, Pretty Lights and DJ Shadow.

The auction of Beatport follows reports last month that the online store had lost $5.5m in 2015, and the bankruptcy filing of its parent company, which has acquired $300m of debt.



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