speakerman39

speakerman39

Audioholic Warlord
Ratings
2,577 5 4
#1
Last edited:
speakerman39

speakerman39

Audioholic Warlord
Ratings
2,577 5 4
#2
"Onkyo USA said Tuesday it has reached an agreement for the exclusive distribution rights to market and distribute TEAC-branded home entertainment products in the United States and Latin America."

Okay, so is this just a nice way of saying Onkyo owns TEAC now or have they just merged? Just curious is all. Any thoughts?:)


Cheers,

Phil
 
lovinthehd

lovinthehd

Audioholic Overlord
Ratings
4,028 16 36
#3
IIRC Gibson (majority stake holder in Onkyo USA) bought a majority stake in the TEAC brand a few years back....think they sold the asset recently, maybe just made a deal for distribution for Onkyo USA now while Gibson tries to restructure?
 
speakerman39

speakerman39

Audioholic Warlord
Ratings
2,577 5 4
#4
Not really sure Chris. It is worded in such a way that is not very clear.....LOL!! I do know that Gibson has had some financial troubles as of late. Looks like they are centralizing their resources in order to get a better grip on their revenue would be my guess. Who really knows.:)


Cheers,

Phil
 
lovinthehd

lovinthehd

Audioholic Overlord
Ratings
4,028 16 36
#5
Well, seems Gibson bought TEAC in 2013 and here's a press release from TEAC's website dated 5/1/18:

"Gibson Brands, Inc. (Gibson),the parent company of TEAC Corporation (TEAC),filed for Chapter 11 bankruptcy protection on May 1, 2018. This has been widely reported in the financial press, internet and other media. TEAC does not make any comment to these articles due to the lack of direct confirmation of the information.

TEAC does not make any comment on how the restructuring will impact the relationship between TEAC and Gibson; however, the possible impacts on the day-to-day operations of TEAC are estimated to be insignificant. While Gibson owns a majority interest in TEAC, TEAC operates autonomously from Gibson including suppliers, distribution channels, customers, legal agreements, bank and financial arrangements, human resources and personnel. TEAC develops and executes its own business strategies and is responsible for the results.

TEAC will continue its business operations as normal while Gibson is working through its restructuring."


Gibson had stakes in Onkyo Corp and Onkyo USA (separate corporations),so probably just some restructuring of assets/distribution.
 
speakerman39

speakerman39

Audioholic Warlord
Ratings
2,577 5 4
#6
Well, seems Gibson bought TEAC in 2013 and here's a press release from TEAC's website dated 5/1/18:

"Gibson Brands, Inc. (Gibson),the parent company of TEAC Corporation (TEAC),filed for Chapter 11 bankruptcy protection on May 1, 2018. This has been widely reported in the financial press, internet and other media. TEAC does not make any comment to these articles due to the lack of direct confirmation of the information.

TEAC does not make any comment on how the restructuring will impact the relationship between TEAC and Gibson; however, the possible impacts on the day-to-day operations of TEAC are estimated to be insignificant. While Gibson owns a majority interest in TEAC, TEAC operates autonomously from Gibson including suppliers, distribution channels, customers, legal agreements, bank and financial arrangements, human resources and personnel. TEAC develops and executes its own business strategies and is responsible for the results.

TEAC will continue its business operations as normal while Gibson is working through its restructuring."

Gibson had stakes in Onkyo Corp and Onkyo USA (separate corporations),so probably just some restructuring of assets/distribution.
Yeah, that is what it looks like. It will be interesting to see how it all unfolds though. Have never owned a TEAC product, but I am liking their integrated amps. It is very doubtful that I will ever own one. But, I do like their designs. Some of which, is a bit pricey.


Cheers,

Phil
 
lovinthehd

lovinthehd

Audioholic Overlord
Ratings
4,028 16 36
#7
Haven't paid the brand much attention since I had one of their tape decks many years ago. What's so interesting about their integrated amps?
 
speakerman39

speakerman39

Audioholic Warlord
Ratings
2,577 5 4
#8
Haven't paid the brand much attention since I had one of their tape decks many years ago. What's so interesting about their integrated amps?
Just like the looks of them. Some nice features as well. Like I mentioned, I doubt that I ever will own anything TEAC anyways. I also know a forum member here @ Seth really likes their offerings. BTW, have not seen him on in a good while now. Hope that he is okay. Have you seen him on?


Cheers,

Phil
 

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