Press Statement from Gibson Guitar on TC Group Merger

Press release
Source: Gibson Guitar

Gibson Guitar, the world's premier musical instrument manufacturer and leader in music technology and TC Group, an international leader in sound processing, amplification, computer recording and speakers, announced that they have discontinued discussions regarding a potential merger between the two companies. The decision followed an intensive effort by both parties to consummate the deal within the targeted timeline, but a number of issues remained unresolved, and both Gibson and TC agreed that it was best that the merger proceedings not continue. TC Group's goal is to produce and distribute innovative high-performance audio products for business partners around the world. Gibson Guitar remains loyal to its many customers and will continue to dedicate its future to producing the best musical instruments in the world while engaging and building its family of brands through innovative technology and potential new business partners.

Gibson is known worldwide for producing classic models in every major style of fretted instrument, including acoustic and electric guitars, mandolins, and banjos. Gibson's HD.6X-PRO Digital Guitar and the Gibson Robot Guitar represent the biggest advances in electric guitar design in over 70 years. Founded in 1894 in Kalamazoo, Michigan, and headquartered in Nashville since 1984, Gibson Guitar Corp.'s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Gibson Baldwin Music Education, Slingerland, Valley Arts, Maestro, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton, and Wurlitzer. Visit Gibson's website at www.gibson.com.