PDA

View Full Version : The day the muzak died.



Aaranar
11th February 09, 05:17 PM
Muzak may have haunted the aisles of its last supermarket: the company has filed for Chapter 11 bankruptcy protection. Somehow, Muzak has accumulated between $100 and $500 million worth of debt, yet has assets that are only worth $50,000, according to Billboard.biz. Which means if enough Rock Daily commenters banded together, they could feasibly buy Muzak. That is, if that $500 million in debt thing doesnít scare you off.

Although itís more well known for torturing your ears with watered-down, vocal-free versions of Top 40 songs, Muzak also create playlists and installs sound systems for retail stores. Aside from owing $371 million to U.S. Bank and failing to make good on a $105 million loan extension, Muzak also owe a bunch of record companies some license fees for being allowed to turn their hits into elevator music. Universal Music is due around $350,000, EMI Capital has a $320,000 tab, thereís a $213,000 IOU for ASCAP, etc. And when your company has assets totally $50,000, we imagine itís hard to pay those companies back.

Interestingly enough, one of Muzakís biggest providers, satellite TV company EchoStar, is also rumored to be attempting to take over Sirius XM, another company in serious danger of filing for bankruptcy.


Source : http://www.rollingstone.com/rockdaily/index.php/2009/02/11/dont-stop-the-muzak-elevator-music-company-files-for-bankruptcy/

Kiko
11th February 09, 05:35 PM
REALLY? WHOOPEE!

Does this mean I won't be subject to loops of horrible pop on rainy days when the satellite gets 'stuck'?

I'll especially be thrilled next Christmas. Our playlists are the non-religious tunes, which means every version of "Run-Run, Rudolph" known to man.

YAAAAAY!!!

Aaranar
11th February 09, 05:45 PM
Actually, I thought folks would be more interested in a company with 50k in assets racking up 500mil in debt.

Dark Helmet
11th February 09, 06:04 PM
Interestingly enough, one of Muzakís biggest providers, satellite TV company EchoStar, is also rumored to be attempting to take over Sirius XM, another company in serious danger of filing for bankruptcy.


Source : http://www.rollingstone.com/rockdaily/index.php/2009/02/11/dont-stop-the-muzak-elevator-music-company-files-for-bankruptcy/
Really it got that bad for Sirius. I wonder what could happen to the Howard Stern show if Sirius went bankrupt.

Arhetton
11th February 09, 07:00 PM
10,000:1 leverage!

Thats awesome!

They should win a prize or something.

Zendetta
11th February 09, 07:39 PM
I remember hearing Stairway to Heaven in Musak. A dark day indeed.

Halfrican
11th February 09, 09:01 PM
I loved when I was standing in sears and called my bank, and the hold music was in synch with the stores music. Die fuckers!

HappyOldGuy
11th February 09, 10:54 PM
I remember hearing Stairway to Heaven in Musak. A dark day indeed.
You haven't heard disney devo yet, have you?

You too can, "Eliminate the time you waste in cliques."