News

Houston, Texas-based AstroJamshttp://www.astrojams.com/">AstroJams; is back online with Grateful Dead MP3s. The site shut">http://www.stereophile.com/news/10430/">shut down its offerings of Grateful Dead and Jerry Garcia Band downloads after receiving a cease-and-desist order from attorneys for Grateful Dead Productions in April. At issue was the site's use of advertising to generate revenue. GDP claims the sole legal right to commercial benefits stemming from the use of the band's music and logos, but had "never">http://www.stereophile.com/news/10440/">never objected" to the free sharing of music in the Dead tradition, according to Dennis McNally of GDP's publicity department.

In a tersely worded press release, Carver Corporation announced that on Wednesday, May 12, 1999 it filed a voluntary petition under Chapter 11 in United States Bankruptcy Court for the Western District of Washington. The cause of the filing was "an accumulation of unpaid debt and resulting legal actions filed by creditors. These actions created the prospect of an inequitable distribution of payment to creditors and prevented the Company from being able to operate as a functioning business entity. In October of 1998, the Company ran out of working capital and laid off the remainder of its workforce. Subsequently, at the invitation of the Board of Directors, Robert W. Carver, the founder of the Company and former CEO, stepped in to take over."

Last week, Tweeter">http://www.twtr.com">Tweeter Home Entertainment Group, Inc. 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.

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.