RADIO AND PHONOGRAPH MERGER.

Manawatu Standard, Volume LII, Issue 70, 22 February 1932, Page 10

RADIO AND PHONOGRAPH MERGER.

The radio manufacturing enterprise, of which it has been said “no other industrial undertaking in America ever came so far so fast,” and what is described as the oldest and latterly the largest phonograph manufacturing and merchandising organisation in continuous existence in the world, has consolidated as a gigantic token of healthier economic structure for the radio-music business.

It is stated that negotiations have been practically completed whereby the Grigsby-Grunow Company, . controlling the Majestic radio, acquires control of Columbia Phonograph Co., Inc. which owns valuable patents and trade-mark rights well known in North and South America, and manufactures phonographs and records with a wide distribution of these products. It is understood that prior to the sale •of shares the Phonograph company will distribute a capital dividend of 10 dollars per share. The Grigsby-Gru-now Co. will exchange approximately 4 4-10ths shares of its stock for each share of Columbia. Therefore stockholders in the former will receive 10 dollars cash and 4 4-10ths shares of Grigsby-Grunow stock for each share of Columbia deposited with voting trustees. It is anticipated that the enlarged company will nave a sales volume of around 100,000,000 dollars annually. The Grigsby-Grunow Co. has enjoyed spectacular growth. From sales _ of 5,861,000 dollars in 1928, it rapidly grew to a peak in 1930 of 61,330,000 dollars.