Muzak and DMX Receive DOJ Clearance to Merge
FORT MILL, S.C. and AUSTIN, 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 email@example.com firstname.lastname@example.org
SOURCE DMX, Inc.; Muzak LLC
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