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Court OKs DMX Music Sale

5/13/2005 8:32 AM Eastern

A bankruptcy court has approved the sale of all of DMX Music Inc.'s domestic and international operations to THP Capstar Inc.

The two parties signed an asset-purchase agreement Feb. 14.

THP Capstar is an affiliate of Capstar Partners LLC, a private investment company led by Steve Hicks with a focus on traditional and early stage investments in broadcast/media, distributed content and media technology.

DMX Music is a majority-owned subsidiary of Liberty Media Corp.

“We are pleased that the bidding process has confirmed our belief that we had secured the best and highest bid for DMX Music and its stakeholders," DMX CEO Mark Rozells said in a prepared statement.

September