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posted by martyb on Tuesday July 14 2020, @12:57AM   Printer-friendly
from the mooed-music? dept.

https://www.digitalmusicnews.com/2020/07/10/muzak-parent-mood-media-bankruptcy/

Mood Media (formerly Fluid Music Canada) noted its intention to move forward with the Chapter 11 filing in a recently published release [pdf]. Along with the bankruptcy plans, the announcement shed light upon a restructuring support agreement (RSA) with lenders, designed to reduce Mood Media’s debt by over $400 million, and $240 million in new financing to maintain liquidity amid the COVID-19 crisis.

Moreover, Mood Media relayed that it (like most other companies that seek Chapter 11 protection) plans to continue operating throughout the bankruptcy process, as it did while restructuring some $650 million in debt through a Chapter 15 filing in 2007. To be sure, Muzak itself filed for Chapter 11 bankruptcy protection in 2009, emerged from the corresponding proceedings in 2010, and was purchased by Mood Media for a reported $345 million in 2011.

In addition to Muzak, Mood Music has acquired several background music providers, including Trusonic, Technomedia, and its sister company, GoConvergence, during the last decade or so. The company also possesses Somerset Entertainment, a kiosk-based music distributor, Austin branding agency DMX, European audio-visual installation provider BIS Group, and former Muzak independent affiliate South Central A\V.


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  • (Score: 0) by Anonymous Coward on Tuesday July 14 2020, @01:42AM (2 children)

    by Anonymous Coward on Tuesday July 14 2020, @01:42AM (#1020909)

    Both my grandparents were Southern Baptist country preachers... And Dad tried to raise me in the ways of the church, but the main thing all that "discipline" taught me was how wrong it is to compel others by demonstrations of one's ability to inflict physical pain on another.

    Just because one has silenced another, that does not mean one has converted another. In all truth, likely the opposite happened. Too many authority types use fear as a motivator. I see this a lot in gang type leadership styles. It usually ends up in runaway subordinates at best, or if taken further, someone gets shot.

  • (Score: 2) by FatPhil on Tuesday July 14 2020, @07:45AM (1 child)

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Tuesday July 14 2020, @07:45AM (#1021114) Homepage
    Yeah, but those Catholic girls when they reach university - amirite?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
    • (Score: 3, Interesting) by Opportunist on Tuesday July 14 2020, @03:05PM

      by Opportunist (5545) on Tuesday July 14 2020, @03:05PM (#1021265)

      If you talk to god, it's called prayer.
      If god talks to you, it's called crazy.