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Mood Media Deal For Muzak Could Reach $345M

Law360 (March 24, 2011, 9:43 PM EDT) -- A year removed from bankruptcy, Muzak Holdings LLC — the South Carolina company that made kitschy elevator music a national staple — will be acquired by Mood Media Corp. for as much as $345 million, the parties announced Thursday.

Toronto-based Mood Media will pay $305 million in up-front cash, plus another $10 million in convertible unsecured debentures and warrants for 4.4 million of its common shares, according to the companies.

The deal is also slated to include a $30 million earn out, bringing the potential total...
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