Audio Equipment

Audiotronics in North Hollywood acquired another maker of audio-visual equipment, Leda Corp., for an undisclosed cash amount. Audiotronics makes audio-visual products used principally in education and training programs. Leda, with headquarters in Huntington Beach, produces specialized audio-visual equipment and is certified by the Defense Department to do electronics assembly, Audiotronics said.

Japanese electronics company Pioneer Corp. will cut 10,000 jobs globally as it copes with sinking sales of car audio equipment and flat-screen televisions. It will also withdraw from its money-losing plasma display business. The massive job cuts are the latest in a slew of layoffs by Japanese corporate giants, which are slashing payrolls worldwide and reducing production amid a global economic slump. Pioneer said it had decided to close two overseas plasma display assembly plants, one in Pomona, by April.

Universal Electronics Inc., a Cypress supplier of universal remote controls and other devices for home video and audio equipment, said Tuesday that its board of directors has approved a 2-for-1 stock split. Additional shares will be distributed by Jan. 31 in the form of a stock dividend to stockholders of record on Jan. 10. As of Dec. 31, Universal Electronics had about 6.8 million shares outstanding. The split will increase the total number to 13.6 million shares.

Matthews Studio Group in Burbank said it has been advised by Nasdaq that the company's stock will be delisted from the Nasdaq SmallCap Market on Thursday. Matthews intends to appeal the decision. Matthews also said it has engaged Imperial Capital LLC of Beverly Hills as a financial advisor to explore strategic alternatives for the company and its Internet division, ShowbizMart.com.

Boyds Wheels Inc., Boyd Coddington's publicly traded custom automobile wheel and motorcycle parts manufacturer, said it has signed a licensing deal with auto electronics and audio equipment maker Orion Industries for a line of products to be marketed in Japan under the Boyds name. Phoenix-based Orion will handle research, development and manufacturing during the yearlong agreement. Boyds Wheels is the marketer. The company said it has received about $230,000 in initial orders.

A trade agency will investigate Bose Corp.'s allegations that noise-reduction headphones sold by Panasonic Corp., Logitech International and others infringe two patents. Bose, maker of the Wave radio and other audio equipment, filed a complaint with the U.S. International Trade Commission last month seeking to block imports of products found to violate the Framingham, Mass.-based company's patents. The agency said it would conduct a formal probe.

The Art Center College of Design has received a $50,000 grant from the Ahmanson Foundation. The grant will enable the college to install new audio-visual equipment, including a 35-millimeter and 16-millimeter projectors, in the college's 400-seat Ahmanson Auditorium.

Sony Corp. said today it has received approval from both the U.S. and Japanese governments for its purchase of the CBS Records Group, the world's largest record company. Japan's leading electronics and audio-visual equipment manufacturer announced in November it had reached agreement with CBS Inc. to purchase its records group for $2 billion.

Two private equity firms backed out of their $8-billion buyout of upscale audio equipment maker Harman International Industries Inc. on Friday, marking the latest such deal to run into trouble amid tightening global credit conditions. Kohlberg Kravis Roberts & Co. and Goldman Sachs Group Inc.'s private equity unit told Harman they were under no obligation to complete the merger because "a material adverse change in Harman's business has occurred," Harman said.