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Last week, <A HREF="http://www.twtr.com">Tweeter Home Entertainment Group, Inc.</A> announced that the company has reached an agreement in principle to acquire DOW Stereo/Video, Inc., located in San Diego, California. DOW is a nine-store specialty consumer-electronics retailer with sales of approximately $38 million, and has been in business in the San Diego market for over 30 years. The transaction is expected to be completed on or about July 1, 1999. Tweeter says it will pay approximately $5.5 million for the company excluding acquisition costs, and has the option of paying approximately $500,000 of the purchase price in Tweeter common stock.

One of the hang-ups preventing DVD-Audio from moving forward is the fear that high-quality digital signals make piracy too easy. As a result, the format will likely incorporate various copy-protection schemes---possibly including watermarking. Does this matter to you?

Plenty of noteworthy new audio products are making their debuts here at HI-FI '99. EveAnna Manley has unveiled her prototype DAC/preamp, the Wave, featuring an UltraAnalog-based 20-bit D/A converter and a tube line-stage. With four digital inputs, four analog inputs, a processor loop, and three variable outputs, the fully remote-controllable unit should appear at dealers in late summer at a suggested price of $7000. Manley says an optional 24/96 pop-in circuit board is in the works.

Following the Sony/Philips jump from the starting line with Wednesday's <A HREF="http://www.stereophile.com/news/10445/">SACD announcements</A>, the DVD-Audio camp quickly came up to speed at the HI-FI '99 press luncheon with their plans for players and discs to appear this fall. First up at the podium was Jordan Rost from the Warner Music Group. Contrasts with the SACD position were established from the start when Rost made it obvious that, unlike SACD, DVD-Audio seeks to embrace not only high-end audio, but also various forms of video, and even Internet interactivity. Rost even went so far as to say that DVD-Audio discs could "play on CD players if a hybrid disc is feasible and desired," thus possibly deflating Sony's insistence that backward-compatibility is what sets SACD apart.

It's been five years since David Wilson's X-1/Grand SLAMM speaker system invaded our audio consciousness with its 500W power capacity and very high (95dB/W) sensitivity (footnote 1). Capable of an earsplitting 123dB at 1m, with a bandwidth to match, this was one speaker system that refused to be ignored. The X-1 has since evolved to $70,000/pair Mk.II form. It now provides some flexibility of tonal balance for different room acoustics, and is distinguished by greater subtlety in its differentiation of timbre. Beneath the X-1 in Wilson's range comes the WATT/Puppy ensemble, now in its 5.1 iteration (footnote 2). The WATT/Puppy has survived for over 10 years, and sets a benchmark for the Wilson line at its $17,270 system price.

<B>BILL LLOYD: <I>Standing on the Shoulders of Giants</I></B><BR> Koch LOC-CD-8035 (CD). 1999. Bill Lloyd, Scott Baggett, prods., engs.; Brad Jones, prod.; Robin Eaton, Marshall Crenshaw, engs. AAD? TT: 56:46<BR> Performance <B>****?</B><BR> Sonics <B>****</B>

Reader Louis McFarlane asks a question that may touch a nerve or two among audiophiles.