Although it's been around since 1934, everyone's favorite elevator music company, Muzak, may be silenced. Muzak Holdings has filed for Chapter 11 bankruptcy protection. The company has about $340 million in bond dept and owes an additional $105 million. Not a pretty sound.
The company has been recording cheesy-mellow music, covers of popular music, commercial-free, that could be used in public places for a fee much smaller that it would cost to use radio or "original" recordings.
The company has a catalog of over 2.6 million songs, and provides more than just the music. They' design and install sound systems, signs and drive-thru systems.
For now, they will operate even during the Chapter 11 process. Truly, if Muzak goes away, it could be the day the music died. --Leslie Shapiro
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