TS News - TCI Music And DMX Complete Merger
TELE-satellit News, 14 July 1997
TCI Music And DMX Complete Merger
ENGLEWOOD, Colorado, USA, 97/07/14 (TS) -- The merger of TCI Music and
DMX has been completed. As a result of the merger DMX became a wholly owned
subsidiary of TCI Music and shares of DMX common stock will be exchanged
for shares of TCI Music Series A Common Stock. Affiliates of TCI own
approximately 90% of the outstanding common shares, and approximately 98%
of the voting power, of TCI Music.
TCI Music was established by TCI in January 1997 to provide digitally
delivered music services via television, internet and other delivery
methods. Initially, TCI Music will be focused on expanding DMX distribution
and subscribers within both the residential and commercial markets. DMX
programs, markets and distributes worldwide its premium digital music
service, Digital Music Express, which provides more than 90 channels of
continuous 24-hour, commercial-free, CD-quality music programming. The
service is provided to over 2 million homes and 35,000 businesses in the
United States and is the most widely available music service in the world.
(c)TELE-satellit 1997. All rights reserved.
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