Wednesday, February 11, 2009

Muzak Files for Bankruptcy

Well, there is justice in the world after all. CNN is reporting that Muzak filed bankruptcy papers yesterday after it missed a $105 million payment to creditors. D'oh!

But don't get too sad - you'll still hear your Kenny G Christmas music in the JC Penny elevator because the company is just restructuring its debt, not shutting down.

According to the article:

"Muzak is a solid business with an outstanding customer base, but we are burdened with substantial debt obligations established over a decade ago," Muzak CEO Stephen Villa said.

They are also burdened with the sin of poisoning our ears with elevator music, on-hold messages and digital signage, among other things. It's a very well-rounded company, you see...

Me, I prefer to frequent establishments that play other sources of music, like XM Radio, where you might actually hear a decent tune while you get your hair chopped or pick up dipies for the little one.

But according to this New York Times story, XM/Sirius isn't faring much better right now either. Ah well, sign of the times. What are ya gonna do?

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