Avid Technology is the parent company of both M-Audio and Digidesign. Avid CEO Gary Greenfield announced the company needed to be more physically fit. That included job losses, but he also said the company needs to unify its business into quote, one avid. Greenfield did not elaborate, but rumors are swirling in the industry that all M-Audio and Digidesign products will soon be referred to as Avid.
Loud Technologies may declare bankruptcy. In what’s called an 8-K filing to the Securities and Exchange Commission on December 17th, the company said it has quote, “experienced a backlog of orders with a significant contract manufacturer in China. This supplier accounts for more than 30 percent of Loud’s sales.” The Washington state-based company said it anticipates a significant decline in net sales this year. It also pointed out that it may not be able to pay back loans it has. Lastly, Loud said it may no longer have control over delivery times, sourcing of parts, and could face unfavorable payment terms regarding new contract manufacturer relationships.
