DMX Music exclusivity extended by one month

New York, Oct. 25 - DMX Music, Inc. was granted its request for a one-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company now has until Nov. 17 to file a plan instead of Oct. 17 and until Jan. 16 to solicit votes, pushed back from Dec. 16.

According to its motion requesting more time, the company said the order for the completed sale of substantially all of DMX's assets did not outline how proceeds should be allocated among secured and unsecured creditors.

The company said it has tentatively resolved differences related to allocation of the proceeds but it needs more time to incorporate the resolution into a proposed plan.

DMX's case is under parent company Maxide Acquisition, Inc. The Los Angeles provider of music, video and entertainment to businesses, consumers and airlines filed for bankruptcy Feb. 14, 2005. Its Chapter 11 case number is 05-10429.

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