Gibson Acquires Philips’ Audio, Video, Multimedia, Accessories Business

PRESS RELEASE: As part of its continued growth and diversification in the music and audio lifestyle arena, Gibson Brands, Inc. (www.gibson.com) today announced that it has signed an agreement with Royal Philips (NYSE: PHG, AEX: PHIA) to acquire WOOX Innovations, the audio, video, multimedia and accessories business of Philips. Under the terms of the agreement, Gibson Brands will pay $135 million and a brand license fee, relating to a license agreement for an initial period of 7 years. The deal is expected to close in the second half of 2014, subject to customary conditions, including regulatory filings and works council procedures.  Read More …

Fender Names Bob Roback New President

Bob RobackPRESS RELEASE: Fender Musical Instruments Corporation (FMIC) announced today that Bob Roback has joined FMIC as President and has also joined the company’s Board of Directors. Roback has extensive experience as an entrepreneur and executive in the music business, overseeing the growth and development of many of the most innovative consumer experiences in digital music and converting those experiences into successful businesses. Roback is an important new addition to Fender’s senior leadership team and will have a wide scope of responsibility including overseeing the development of Fender’s emerging digital strategy aimed at deeply engaging musicians and music fans more broadly. Roback will also establish a new Los Angeles office in order to expand the company’s consumer marketing and digital capabilities. Read More …