Canadian Company To Buy Muzak
A Canadian company is buying Fort Mill-based Muzak, the company that left an imprint on American culture by producing what became known as elevator music. Muzak got a new CEO in November. At the time, he said the company was poised for growth after emerging from bankruptcy early last year. That growth will come courtesy of Mood Media for the price of $345 million. A spokesman says Muzak's Fort Mill complex will serve as the headquarters for Mood Media's U.S. operations. The new company will also continue to use both the Muzak and Mood Media brand names. Mood Media is based in Toronto. Like Muzak, it provides custom music mixes and other media services to retail stores, but most of its clients are overseas. The company says its customers include more than 800 retail chains in 30 countries. The bulk of Muzak's business remains those song lists you hear in restaurants and stores, although it's expanded to other services such as digital signage. The elevator music known as MUZAK went away in the 1980s.