Muzak files Chapter 11

No, this is not good news, given their creditor list:

Other top unsecured creditors include vendors such as Universal Music Enterprises, owed $349,321; EMI Capital Records, $320,323; AT&T, $257,384; and Dish Network, $251,276. The American Society of Composers, Authors and Publishers is owed $213,020, the filing said.

Sony Music, BMG Film & Television Music, United Parcel Service and Virgin Records were also listed among the unsecured creditors.

Still, a little Schadenfreud might be excused.

UPDATE: Another reason (besides guns) to love The Nuge:

The backlash [against Muzak] reached a peak in the 1980s when rocker Ted Nugent sought to buy the company for $10m to close it down.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: