Liberty Digital Inc., Los Angeles-based media development company, has announced that the long-awaited merger between its subsidiary, DMX Music, Inc., and AEI Music Network Inc. (Seattle) has been completed. The new company will remain a subsidiary of Liberty Digital, which will own 56 percent.
The company, to be called DMX/AEI Music for now, will be based in Los Angeles but retain a presence in Seattle. A re-branding effort, expected to be completed next year, will examine options for changing the name of the company. Michael Malone, founder and ceo of AEI, has been appointed chairman of the board. Lon Troxel, DMX's president and ceo, will be president and coo. A new ceo is expected to be named shortly.
The combined company is expected to be a global leader in digital music programming that will be able to deliver in-store music via the established capabilities of the two companies: digital cable, satellite, CD-i, tape, CD and DVD, as well as via a digital audio and video delivery system combining the Internet, IBM e-business platforms and Microsoft software; and also via a digital delivery system that makes use of broadcast and CD player technology.