Deep in Debt, Big Retailer Guitar Center May Be Acquired

While the biggest US name in pro audio made headlines last week with uncertain financial news, so, too, did the biggest US name in music retail. Yes, we were so caught up watching Avid, makers of Pro Tools, Sibelius, and Media Composer, as they were dropped from NASDAQ and delayed earnings reports once again, we missed the latest on Guitar Center. The big box music giant may not be able to keep up with its debt. The Wall Street Journal [paywall] reports that the retailer’s largest creditor is in “advanced talks” with owner Bain Capital to take over the company. …

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Avid Delays Financial Reporting, But Promises Brighter Future, Including Pro Tools and Sibelius

Avid, makers of Pro Tools, Media Composer, Sibelius, and other products was on Tuesday suspended from being traded on the NASDAQ stock exchange because of a failure to issue timely financial statements. And the company by the admission of its own chief executive faces a changing industry. However, our earlier report included inaccurate information from financial analysis site The Street. Their report included outdated financial data. Our reporting was not correct; we have since spoken to Avid. The Street reporting (and thus ours, in building a report on it) was inaccurate and misleading in that financial data for Avid actually …

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Avid, Maker of Pro Tools, Now Delisted from NASDAQ

We have an updated, more complete and accurate story on the issue, including commentary from Avid. Read the full feature In it, we look at the NASDAQ delisting, some ongoing concerns (SEC, DOJ, and a shareholder suit remain issues), but also Avid’s strategy and the response from the company on how they intend to move forward. Restructuring efforts at Avid maker Pro Tools are far from returning faith in the company by the stock market. Financial site The Street reports today on the state of the company’s stock. Most troubling, yesterday Avid received a letter from NASDAQ delisting the company …

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