Toronto – Mood Media, a provider of in-store music and media
systems, announced on Thursday that it will acquire Muzak for $345 million.
Founded
in 1934, Muzak created the "elevator music" marketplace that
eventually developed into providing background music, digital signage and other
services to retail stores.
Mood Media said that the combined company will service over 470,000
commercial locations in over 39 countries, with a combined library of 1.7
million tracks and 30,000 original recordings.
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