Word: freimann
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Dates: during 1960-1969
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...rest of Collaro's stock is held by Great Universal Stores Ltd., biggest retail and mailorder chain in Britain (2,700 stores, 34,000 door-to-door salesmen). With this readymade sales organization, Magnavox will distribute its own British-made TV sets, radios and phonographs. Says President Frank Freimann: "We're ready to expand. This gives us a real springboard to move fast into the English market...
Tremendous Confusion. Broad-shouldered, hoarse-voiced Frank Freimann, 53, has kept once slow-moving Magnavox clipping along at a fast pace. He will shortly introduce a new electronic organ for the home (price: $700 to $1,500). In stereo, he pushed Magnavox ahead of the field by switching over its entire phonograph line to stereo in 1958, bringing a mass-produced stereo set to market before any other U.S. firm. His bet on stereo's future paid off handsomely. Magnavox sales jumped 36% to $107 million in 1959, and profits rose 85% to $4,500,000. The company...