Award honors Canada's most impressive entrepreneurs
TORONTO, July 8, 2011 /PRNewswire/ - Mood Media Corporation (TSX:MM/ LSE AIM:MM), the leading global provider of in-store media, music, digital signage and scent solutions, today announced that CEO and Chairman Lorne Abony has been named a finalist for Ernst & Young Entrepreneur of the Year.
The Canadian Entrepreneur of the Year program is in its 18th year of honoring the country's most impressive entrepreneurs from all areas of business. Award winners are chosen based on their vision, leadership, financial success and social responsibility.
Mr. Abony is a successful entrepreneur with a strong track record in creating shareholder value in ventures ranging from online pet supplies to encryption software, and has raised more than $1 billion in capital over the past 10 years.
"Businesses — and countries — don't grow by standing still," said Colleen McMorrow, National and Ontario Director of Entrepreneur of the Year. "Entrepreneurial thinking empowers companies to generate new jobs, open new doors and seize new opportunities."
Formed by Abony in 2005, Mood Media has become a global leader through a combination of disruptive innovation in music licensing and media convergence and a series of strategic acquisitions. In May 2011 Mood Media acquired Muzak for US$345 million to create the largest in-store media provider in the world, nearly five times the size of its next largest competitor. In June 2011, Mood Media was named Canada's Fastest-Growing Company by PROFIT Magazine.
"I am proud to be recognized for entrepreneurial achievement," said Lorne Abony, CEO and Chairman of Mood Media Corporation. "I am confident that more opportunities lie ahead for me, for our company, and for businesses across Canada."
A native of Toronto, Canada, Abony has an MBA from Columbia Business School, an L.L.B. from the International Law Centre at the University of Windsor and a B.A. from McGill University. He sits on the board of the Boston Foundation for Sight, and the advisory board of Der Grüne Punkt - Duales System Deutschland GmbH (DSD) a leading provider in the growing market of closed-loop recycled consumer and commercial packaging.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM) is a leading in-store media specialist that uses a mix of music, visual and scent media to help its clients communicate with consumers with a view to driving incremental sales at the point-of-purchase.
Through its subsidiaries Mood, Muzak and Mood Entertainment, Mood Media Corporation's products and services reach 150 million people every day in more than 470,000 locations across 40 countries throughout North America, Europe, Asia and Australia.
Mood Media Corporation operates an international in-store media and music retail business with an extensive geographic footprint and a broad client base including more than 850 U.S. and international brands in diverse market sectors that include: retail, from fashion to financial services; hospitality, from hotels to health spas; and food retail, including restaurants, bars, quick-serve and fast casual dining.
SOURCE Mood Media Corporation