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Current Issue:
MAY 2018

 

 


APRIL 10 | HAL LEONARD I ACCQUISITION
Hal Leonard, Music Sales Group Enter $50M Deal
Hal Leonard has purchased the physical and online printed music businesses of global independent music publisher, The Music Sales Group. On April 5, Milwaukee Journal Sentinel reported that the deal was for about $50 million. {more}

APRIL 10 | GUITAR CENTER I COMPANY
GC Announces Successful
Early Tender Results

Guitar Center has announced the early tender results for its previously announced exchange offer and consent solicitation to exchange its existing 9.625 percent senior unsecured notes due 2020, of which there are currently $325 million aggregate principal amount outstanding, for 5 percent cash/8 percent payment-in-kind notes due 2022. {more}

APRIL 10 | REVERB I APPOINTMENT
Reverb Hires
Former Gibson Executive

Reverb has hired Gérard Danjou, former executive vice president of global business development at Gibson Brands, to drive international growth. {more}

APRIL 10 I LOWREY I MOVING
Lowrey Plans Relocation to LA
Lowrey has announced plans to relocate operations from its current Chicago-area facility to Los Angeles. {more}

MARCH 30 | ST. LOUIS MUSIC, ANTIGUA WINDS I DISTRIBUTION
St. Louis Music Distributes
Antigua Winds

St. Louis Music has acquired the distribution of Antigua Winds in North America, effective May 1, 2018. {more}

MARCH 14 I JODYJAZZ I ACQUISITION
JodyJazz Acquires Chedeville
JodyJazz has acquired Chedeville, a clarinet and saxophone mouthpiece company. {more}

MARCH 13 I GUITAR CENTER I RATING ACTION
S&P Downgrades
Guitar Center's Ratings

Standard & Poor's downgraded Guitar Center's corporate credit rating to CC from CCC-minus in a report released March 12. The ratings agency lowered Guitar Center's rating after the company announced refinancing transactions for its secured debt and an exchange offer for its unsecured notes. The outlook is negative. {more}

MARCH 13 I LUNASTONE, D&A GUITAR GEAR I DISTRIBUTION
LunaStone Appoints D&A Guitar Gear
D&A Guitar Gear has been appointed as the U.S. distributor for Danish guitar pedal brand, LunaStone. {more}

MARCH 8 I HERITAGE GUITAR I COMPANY
Heritage Guitar Fires 10,
4 Walk Off in Protest

Fourteen Heritage Guitar employees have left the historic Kalamazoo, Michigan-based manufacturer, according to an article published by local news station WWMT-TV Newschannel 3 on Feb. 27. {more}

MARCH 8 I GIBSON BRANDS I COMPANY
Gibson Rating Downgraded, Lays Off Workers
Standard & Poor’s downgraded Gibson Brands corporate credit rating. In a report released Feb. 21, the rating action “reflects the increased likelihood that Gibson Brands could experience a near-term liquidity shortfall and default on its debt if lenders choose to accelerate debt payments … The outlook is negative.” {more}

MARCH 6 I MUSIC & ARTS I ACQUISITION
Music & Arts Opens 160th Location
Music & Arts has opened its 160th location in the United States with the acquisition of Ponier Music in West Cobb, Georgia. {more}

MARCH 6 I SAM ASH MUSIC I PHILANTHROPY
Sam Ash Gives Back
Sam Ash Music has supported musicians in recent months through donations of an instrument and gift cards. The recipients received the donations on Steve Harvey's and Harry Connick Jr.'s talk shows. {more}

MARCH 5 I YAMAHA I APPOINTMENT
Yamaha Names Sumner President
Tom Sumner has been named president of Yamaha Corporation of America, effective April 1. This is the first time that the Japan-based manufacturer has named an American executive to the top position in the United States. {more}

MARCH 1 I AVID I COMPANY
Avid Fires CEO, Appoints Jeff Rosica
Avid Technology has announced that it has terminated the employment of CEO Louis Hernandez Jr. due to violations of company policies related to workplace conduct. {more}

FEB. 23 I BANDLAB I ACQUISITION
BandLab Acquires Cakewalk Assets from Gibson
BandLab Technologies has acquired certain assets and the complete intellectual property of Cakewalk from Gibson Brands. {more}

FEB. 19 I GIBSON BRANDS I COMPANY
Gibson Seeks Refinancing, Hires CFO
Gibson Brands issued a statement on Feb. 15 in response to numerous reports regarding the company’s financial challenges and debt deadlines. {more}

FEB. 14 I GIBSON BRANDS I COMPANY
Gibson Faces Financial Challenges
Gibson Brands is facing debt deadlines and is "running out of time," according to an article published by the Nashville Post on Feb. 9. {more}

FEB. 7 I D'ADDARIO, MEINL I DISTRIBUTION
Meinl, D'Addario UK End Distribution Agreement
After four years, D'Addario UK and Meinl have mutually agreed that D'Addario will no longer represent Meinl cymbals and percussion in the UK from April 1, 2018. {more}

FEB 6. I NAMM I EVENT
NAMM: Bigger, Better and Busier
This year's NAMM Show welcomed 115,085 registered industry professionals — a 7.6 percent increase on figures in 2017. Held Jan. 25-28, NAMM reported nearly 2,000 exhibitors representing some 7,000 brands on The NAMM Show Campus. {more}

FEB. 6 I MIKE BELITZ I ACQUISITION
Mike Belitz Acquires Radial Engineering
Mike Belitz, president and CEO of Ultimate Support Systems, has acquired Radial Engineering. {more}

FEB. 6 I GATOR, LEVY'S LEATHERS I ACQUISTION
Gator Acquires Levy's Leathers
Gator Cases has acquired Levy's Leathers. Gator, a multi-segmented accessories manufacturer, and Levy's, a manufacturer of leather guitar straps and accessories, announced the deal on Jan. 24. {more}



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