Milbank LLP advised Mood Media in connection with its entry into a merger agreement with affiliates of Vector Capital, pursuant to which Vector’s affiliates will acquire 100% of the company. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2020.
Milbank had recently advised certain lenders in Mood Media’s chapter 11 bankruptcy proceedings, who had become the majority owners of the company upon its reorganization in July 2020. Mood Media also has the fastest chapter 11 proceeding, at less than 31 hours from filing to emergence.
Mood Media, based in Austin, Texas, is an international in-store media solutions provider of music, digital signage, hold music, on-hold messaging, scent, integrated audio/video, and interactive mobile marketing products.
The Milbank deal team was led by Global Corporate partner Scott Golenbock and includes special counsel Iliana Ongun and associates Hannah Hwang and Frank Pensabene. Advice was also provided by Tax partner Max Goodman and associate Michael Rivkin, Antitrust partner Fiona Schaeffer, Employee Benefits partner Mike Shah and associate Kelly Bartley and Intellectual Property special counsel Nathaniel Browand.
