Engineering facilities and a finished-goods warehouse at Altec Lansing Technologies' Milford, Pennsylvania, headquarters were damaged by fire late Sunday, May 31. The blaze was said to have been exacerbated by severe weather. No injuries were reported.
James Dunning, Jr., Chairman and CEO of The Petersen Companies, Inc., announced June 4th the completion of the acquisition of Stereophile and Stereophile Guide to Home Theater (two of this country's leading high-end audio and home theater publications), as well as HI-FI '98, The Home Theater & Specialty Audio Show.
The practice of "Transshipping"---selling a product outside one's designated territory---is widespread in the audio industry. It's commonplace for dealers to sell not only to walk-in customers, but also over the telephone or Internet to customers in other dealers' territories, usually at discounted prices. While not problematic on a small scale, the practice favors large-volume dealers over smaller ones, and is almost always a violation of a dealer's agreement with a manufacturer.
Hundreds of manufacturers will be demonstrating state-of-the-art audio products at HI-FI '98---some of which have never before been seen by the public. We're running several announcements each week leading up to the Show to give you a taste of what to expect. Here's the fourth assortment:
Software giant Microsoft Corporation has entered the audio market with a satellite-and-subwoofer speaker system for use with personal computers. The Digital Sound System 80 made its debut at this year's Electronics Entertainment Expo (E3), held May 28-30 in Atlanta's World Congress Center. The system was designed in conjunction with Philips Electronics NV of the Netherlands, one of the world's largest electronics companies.
Did they capture the sound of her violin? Did the nuance of a 9' Steinway grand piano translate onto the disc with all of its dynamic range intact? Hear for yourself when Ida Levin and Delores Stevens mark the debut of Stereophile's latest recording, Duet, with two live performances at HI-FI '98.
On May 26, N2K's JazzCentralStation launched the first officially sanctioned Miles Davis StarSite, MilesDavis.com. An all-star musical and multimedia tribute was held that evening at New York City's Birdland, hosted by Dr. Billy Taylor and recorded by Phil Ramone and Michael Cuscuna for a September release on N2K Encoded Music. May 26 would have been Davis' 72nd birthday.
Hundreds of manufacturers will be demonstrating state-of-the-art audio products at HI-FI '98---some of which have never before been seen by the public. We are running several announcements each week leading up to the Show to give you a taste of what to expect. Here's the third assortment:
Returned products are problematic for consumers, retailers, and manufacturers. Returns have always eaten into profits in the audio and video business. Everybody knows that. What isn't widely known is that the Consumer Electronics Manufacturers Association sponsors an annual conference to help deal with the problem.
On May 18, 1998, James D. Dunning, Jr., Chairman and CEO of the Petersen Companies, Inc., announced an agreement to acquire Stereophile Magazine and Stereophile Guide to Home Theater---two of this country's leading high-end audio and home-theater publications---as well as HI-FI '98, The Home Theater & Specialty Audio Show.
Media conglomerate Viacom, parent company of Blockbuster Music, has reportedly put the ailing chain on the auction block. Most likely buyer is Torrance, California-based music retailer Wherehouse Entertainment, Inc., which has 220 stores of its own, primarily on the West Coast. On Wednesday, May 13, Reuters news service reported that Wherehouse had tendered an offer of $200 million for Blockbuster. Wherehouse has been in intermittent discussions for several months with Viacom.