Trinity Hunt Partners and Capstar Partners, LLC have completed the acquisition of DMX MUSIC, a global leader in digital music and visual imaging programming with 100 million daily listeners in homes, airlines and businesses. Prior to the purchase, DMX MUSIC was majority-owned by Liberty Media Corporation (NYSE: L).
Trinity Hunt joined with Steve Hicks’ Capstar Partners, LLC, to complete the transaction through a newly formed company, THP Capstar, Inc. The final sale price was approximately $75 million.
“DMX MUSIC has a very promising outlook,” said Dan Dross, partner, Trinity Hunt Partners. “The company is a global leader in music and entertainment subscription services. Under new ownership, DMX MUSIC will be well capitalized and benefit from the proven leadership of the seasoned Capstar team.”
“DMX MUSIC is backed by the strongest balance sheet in the industry, which translates into better products, stronger infrastructure, superior service and expanded capabilities for our customers,” said John Cullen, president, DMX MUSIC.
DMX MUSIC and THP Capstar signed an asset purchase agreement earlier this year for the sale of DMX MUSIC’s operations. THP Capstar completed the purchase through a voluntary bankruptcy proceeding.