DMX Music, Muzak settlement and release agreement approved

By Caroline Salls

Pittsburgh, June 20 - DMX Music, Inc.'s settlement and release agreement with Muzak, LLC was approved Friday by the U.S. Bankruptcy Court for the District of Delaware.

The settlement resolves litigation over "predatory pricing, unfair business practices and related contractual disputes," according to the filing.

Under the settlement, Muzak will pay $1 million to DMX in exchange for dismissal by DMX of all claims against Muzak.

DMX's case is under parent company Maxide Acquisition, Inc. The Los Angeles provider of music, video and entertainment to businesses, consumers and airlines filed for bankruptcy on Feb. 14. Its Chapter 11 case number is 05-10429.

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