We missed it a few weeks ago, but we heard that Mood Media (otherwise known as Muzak) filed for bankruptcy in New York on May 18th 2017. Since then, Mood Media has sold its BIS subsidiary for $20.2 million to Econocom. The filing has been made under Chapter 15 of the US code.
In 2011, Mood Media purchased Muzak Holdings following Muzak Holdings February 2010 emergence from Chapter 11 protection. Mood Media indicated pre-petition assets of $594 million. The company said that the cost of legally licensed music has gone up as publishers look to compensate for pirated content.
