Muzak president dismissed amid restructuring

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FORT MILL, S.C. (AP) — The president of the commercial music provider Muzak is out of a job as the company's Canadian owners work to consolidate a string of acquisitions.

The Charlotte Observer reported (http://bit.ly/Qwl2DP ) that Muzak president Steven Richards was one of an unspecified number of employees let go in recent days.

Muzak's headquarters moved to Fort Mill, S.C., from Seattle in 1999. The struggling company was bought last year by Mood Media of Toronto for $345 million as Muzak exited Chapter 11 bankruptcy. Since then, Mood Media has acquired several other music and marketing companies, including Austin, Texas-based DMX Holdings.

Company spokeswoman Danielle Wuschke said John Cullen, the CEO of DMX Holdings, will also be running Muzak. Wuschke wouldn't say whether the Muzak name will be lost as Mood Media integrates its acquisitions.

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