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Muzak to emerge from bankruptcy protection

Published on 14 Jan 2010 under category: legal

Muzak Holdings has been given the green light to come out of bankruptcy.

The firm looks set to emerge from Chapter 11 protection by the end of the month after its plan was backed by the US Bankruptcy Court for the district of Delaware.

Stephen Villa, chief executive officer for Muzak Holdings, said that the company is "very proud" of what it has achieved in being able to reach this point.

He added that the firm will emerge from Chapter 11 stronger than when it went in.

Mr Villa continued: "I would like to thank our employees, clients, affiliates, advisors and all of our stakeholders and I am confident that, upon emergence, Muzak will be well-positioned for continued leadership and innovation.

"With our strengthened capital structure, we will continue investing in new talent and technology to provide innovative new offerings and to further enhance the first class products and services that our clients have come to expect from Muzak."

Muzak Holdings is a US-based firm which produces media solutions.

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