Published:
Muzak and DMX Receive DOJ Clearance to Merge
FORT MILL, S.C. andAUSTIN, Texas, April 7 /PRNewswire/ -- Muzak LLC and
DMX, Inc., two leading providers of business media services, today announced
that they have been informed by the Antitrust Division of the U.S. Department
of Justice (DOJ) that the DOJ's investigation into the proposed merger of the
companies, to allow for a sale to a third party, would be closed -- and that
the companies are cleared to proceed with the proposed transaction without an
antitrust challenge. The companies expect to receive formal notification of
the investigation's closing in the near future.
Muzak's Chief Executive Officer, Steve Villa, said, "We are pleased with
the action taken by the Department of Justice, as we believe a merger of our
two companies will create significant opportunities for innovations in
products and services that will result in tremendous benefit for our clients."
John Cullen, chief executive officer of DMX was quick to applaud the DOJ's
decision. "On behalf of the DMX management team, we are committed to blending
two great companies and look forward to seeing how things unfold with offers
from interested parties," Cullen said. "More importantly, we are extremely
excited about the possibilities that lie ahead for our clients and assisting
them in creating memorable experiences for their customers."
Muzak and DMX have taken steps that will allow them to move quickly
through the sale and integration process, including completion of an analysis
of the combined entity. The companies have also engaged an investment banking
firm to assist with offering the combined entity to a third-party buyer. The
companies will continue to operate independently until a purchase is
finalized, and expect no disruption in service to clients.
Additional announcements will be made as the sale and integration process
continues.
About Muzak
As a leading provider of business music, Muzak creates experiences that
reach more than 100 million people daily. Some of the biggest brands in
business, from Ann Taylor to AT&T to McDonald's, work with Muzak to enhance
their brand image in hundreds of thousands of client locations. Muzak creates
a wide variety of core and custom music experience for clients around the
world. Muzak creates custom on-hold and in-store voice messages, and designs
and installs professional sound systems, commercial television, drive-thru
systems, digital signage, soundmasking systems and more through its national
network of sales and service locations. For more information, visit
http://www.muzak.com.
About DMX
Recognized as an international leader of sensory services, DMX creates
brand experiences for commercial environments. The company's services include
music design, full motion video, audio messaging and environmental scents
developed to provide brand texture for its customers and create integrated,
multi-sensory environments that drive repeat business. DMX also provides music
for cable television networks worldwide. For over 35 years, DMX's customers
have included prominent industry leaders and represent some of the most
identifiable international brands such as Nike, Starwood Hotels, 24 Hour
Fitness, American Eagle, and many others. For more information please visit
DMX on the Web at http://www.dmx.com.
MEDIA CONTACTS:
Marissa Ferrari Brian McKinley
Muzak DMX
(803) 396-3242 (512) 380-8508
marissa_ferrari@muzak.com brian.mckinley@dmx.com
SOURCE DMX, Inc.; Muzak LLC
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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