Business
Mood Media Corporation Completes Acquisition of DMX
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nTORONTO, March 20, 2012 /CNW/ - Mood Media Corporation (ISIN:\n CA61534J1057) (TSX:MM/ LSE AIM:MM) (\"Mood Media\") announced today that\n it has completed its previously announced acquisition of DMX Holdings,\n Inc. (\"DMX\") for US$86.1 million in cash including net debt repaid on\n closing, subject to certain adjustments for working capital. The equity\n value of the transaction will be approximately US$53.8 million.\n\n\nAlso in connection with the DMX acquisition, Mood Media completed its\n previously announced private placement of 31,800,000 common shares,\n issued at 231 pence per common share (C$3.60 per common share), raising\n £73.5 million (C$114.5 million) before expenses. The proceeds of the\n private placement were used in part to satisfy the consideration\n payable in connection with the DMX acquisition. The additional net\n proceeds of the private placement will be used for general corporate\n purposes.\n\n\nDMX \n\n\nDMX is a US provider of multi-sensory branding services, delivering\n services to over 100,000 locations.   DMX uses music, video and digital\n signage, messaging, scent, and audio/visual systems to personify and\n enhance brands to create lasting connections that encourage customer\n loyalty. In the 12 months ended 31 December 2011, DMX recorded revenues\n of US$84.6 million, EBITDA of US$16.5 million and profit before\n taxation of US$5.6 million.\n\n\nStock Exchange Matters\n\n\nThe common shares issued pursuant to the private placement have been\n conditionally approved for listing on the Toronto Stock Exchange,\n subject to satisfaction of the exchange's customary conditions.\n\n\nAbout Mood Media Corporation\n\n\nMood Media Corporation (TSX:MM/ LSE AIM:MM), named Canada's fastest\n growing company by PROFIT Magazine is a leading in-store media\n specialist that uses a mix of music, visual and scent media to help its\n clients communicate with consumers with a view to driving incremental\n sales at the point-of-purchase.\n\n\nOperating through its two principal divisions, In-Store Media and Retail\n Point-of-Purchase, Mood Media Corporation works with over 470,000\n commercial locations in over 40 countries throughout North America,\n Europe, Asia and Australia.\n\n...