| Proposed Ticker: MUZK | 2901 Third Avenue, Suite 400 | |
| Exchange: NASDAQ-National Market | Seattle, Washington 98121 | |
| Industry: Service | (206) 633-3000 |
| All share information is proposed | ||||
| Type of Shares: | Common Shares | Filing Date: | 5/15/96 | |
| U.S. Shares Filed: | 4,600,000 | Filing Range: | $14.00 - $16.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $69,000,000 | |
| Primary Shares: | 4,241,577 | Expenses: | - | |
| Secondary Shares: | 358,423 | Shs Out After: | 11,410,339 | |
| Manager | Tier | Phone |
| PaineWebber Incorporated | Lead Manager | (212) 713-2626 |
| Montgomery Securities | Co-manager | 4156272220 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $86.88 | $20.94 | $21.21 | Assets: | $94.36 |
| Net Income: | -$6.37 | -$2.31 | -$1.81 | Liabilities: | $79.42 |
| EPS: | -$0.89 | -$0.32 | Equity: | $14.94 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Company is the leading provider of business music in the United States. The Company and its franchisees serve approximately 178,000 customer locations in the United States, representing a market share of over 50% of the estimated number of domestic locations currently served by business music providers and approximately twice the estimated number of locations served by its nearest competitor. Its customers, most of which are under long-term contracts, include Taco Bell, McDonald's and Boston Market restaurants and Nordstrom, Crate & Barrel, Kroger, Staples, Hallmark and Wal-Mart retail stores, as well as a large number of local and regional accounts. Through a network of distributors, the Company also provides business music to subscribers outside the United States. The Company estimates that its business music is heard by more than 80 million listeners each day in the United States and abroad. The Company also offers its customers a range of non-music services, including broadcast data delivery, video, audio marketing and in-store advertising services, and sells, installs and services related equipment. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to implement a plan of recapitalization. |
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