Gibson Brands announced Tuesday that it has hired Lee Cheng as its new Chief Operating Officer (COO) and executive vice president. This appointment takes effect immediately and follows a recent additional credit downgrade by the Moody’s Investor Service.
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Gibson Brands Puts Assets Up For Sale
Just two weeks after we told you about Moody’s Investors Service downgrading Gibson Brands credit to junk status, the company has put two of their properties up for sale in an apparent effort to raise some much-needed cash. According to local reports, both properties contain warehouses and are located in redevelopment areas in downtown Nashville.
See more on this new Gibson development… [Read more…] about Gibson Brands Puts Assets Up For Sale
Moody’s Downgrades Gibson Brands Credit to Junk
Gibson Brands CEO Responds to Moody’s Downgrade
The music industry is positively buzzing about the announcement late last week by Moody’s Investors Service that, for the second time in three months, it has downgraded the credit rating of Nashville, Tennessee-based Gibson Brands. Gibson (formerly Gibson Guitars) is a tightly held private company that launched an aggressive diversification strategy a few years ago, focusing on acquiring several consumer electronics brands such as Onkyo Corp. and Teac, Corp. and recently Philips.
Now Moody’s suggests the debt used to acquire these brands is dragging the company down… [Read more…] about Moody’s Downgrades Gibson Brands Credit to Junk
Gibson Brands Opens Showroom in Tokyo
Gibson Brands (née Gibson Guitars) announced last week that it has opened a showroom in Tokyo, Japan that it calls a “pioneering music lifestyle concept showroom.” Although Gibson Brands owns many different brands, this particular showroom focuses on just three of them: Gibson Guitars, TEAC and Onkyo.
See more on this unique showroom… [Read more…] about Gibson Brands Opens Showroom in Tokyo
Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips
Oops, they did it again (to quote pop icon Brittney Spears) – Gibson Brands has acquired WOOX Innovations, a Singapore-based brand of accessory products, from owner Royal Philips, N.V., according to an announcement from Philips earlier this week. Another in a line of acquisitions in the consumer electronics space by Gibson, WOOX brings in a complementary line of products and international distribution into its portfolio. This is the second attempt to sell the division by Philips, who had a deal with Funai fall through late last year, resulting in legal action.
See more on this deal, including what it means for both companies… [Read more…] about Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips
Gibson Brands Goes ‘Back to the Future’ to Celebrate 120 Years
Gibson Brands took advantage of the Consumer Electronics Show in Las Vegas to make a bit of a show of their own to celebrate 120 years in business. The company, which serves up 23 different brands of musical instruments, professional audio products and, more recently, consumer electronics products, chose a unique way to mark the occasion by going “Back to the Future.”
See more on how Gibson chose to celebrate their 120-year anniversary… [Read more…] about Gibson Brands Goes ‘Back to the Future’ to Celebrate 120 Years
Gibson Brands Strikes Again – Seeks to Acquire Cakewalk from Roland
Gibson Brands announced this week that it it has signed a letter of intent with Roland Corp. and Cakewalk, Inc. to acquire Cakewalk Inc., a music software company, for an undisclosed amount. The deal is pursuant to the successful negotiation and execution of a definitive agreement.
And with acquisition, Gibson says it will launch a new brand, Tascam Professional Software to sell the Cakewalk product line. See more on this acquisition below… [Read more…] about Gibson Brands Strikes Again – Seeks to Acquire Cakewalk from Roland
Gibson Brands Goes Looking for an Advertising Agency on AMC’s ‘The Pitch’
Gibson Brands (formerly Gibson Guitar) announced today that CEO Henry Juszkiewicz will be featured on an episode in season two of AMC’s reality show “The Pitch.” The show chronicles the steps that rival advertising agencies go through to win new clients.
See more on Gibson’s participation on ‘The Pitch’… [Read more…] about Gibson Brands Goes Looking for an Advertising Agency on AMC’s ‘The Pitch’
Gibson and Onkyo Go Wireless
The Wireless Speaker and Audio Association (WiSA) announced on Tuesday that it has signed up several new members and a couple caught our eye – Gibson Guitar Corp. (now Gibson Brands) and Onkyo Corporation. Also joining the organization are loudspeaker manufacturer Dali and Australian distributor Amber Technology who markets a line of speakers called Accent Digital.
Who is the WiSA and why would Onkyo and Gibson join? See more below… [Read more…] about Gibson and Onkyo Go Wireless
Gibson Guitar Announces Name Change
Gibson Guitar announced on Tuesday that – in a bid to better reflect its growing family of products outside of the guitar category – it will be changing its corporate name from Gibson Guitar Corp. to Gibson Brands. While the move looks logical, there will likely be many who will bemoan the fact that the new name loses its ability to honor the company’s stringed-instrument heritage and still-important namesake product.