Suny Entertainment, a Florida-based music production company, is being hit with a potential shutdown of its production studio.
Suny, which was founded in 2002 and was one of the first companies to create soundtracks for the hit TV series “The Office,” has struggled with falling production costs.
The company is currently producing music for movies, TV shows and other productions, but the shutdown is likely to result in the closure of Suny’s entire production company.
“We’ve been working to secure our future,” Suny CEO Matt Rieger said in a statement.
“It is a tough moment for our company, but we remain committed to continuing to create great music and have a strong future.”
Suny’s problems began in 2013, when it was hit with an audit of its finances that revealed the company had been spending nearly $10 million a year in cash and on non-performing investments.
Sunx is one of several Florida companies hit with audit scrutiny by the Florida Department of Revenue.
The audit was prompted by Suny losing its contract with an entertainment company in 2014.
The state’s Department of Economic Opportunity was also called in.
Sunx was fined $5 million and fined $3.8 million for the loss of production work, and it was forced to pay $7.5 million in penalties for the same violation.
Sunys contract with the Florida Entertainment Commission expired in 2020.
In the meantime, the company has struggled to find enough funds to continue producing music.
The Florida Music Association has called for Suny to close down, and Riegen said that Suny is working to raise funds for a new production company that will provide music production services to movie, TV and other film and television productions.
As the shutdown looms, Suny and its production company will have to find new funding sources.
The Florida Music Academy has called on the state to stop paying Suny for its music production work.
On Friday, Riegemont said that the company plans to seek a temporary reprieve from the state, which he said is necessary.
According to a statement from the Florida Music Commission, Sunys revenue fell to $5.8 billion in 2017, down from $8.1 billion in 2016.
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