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In the late 50s, Mc Carty knew that Gibson was seen as a traditional company and began an effort to create more modern guitars.

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Gibson remained under the control of CMI until 1974 when it became a subsidiary of Norlin Musical Instruments.The company (Gibson) was within three months of going out of business before it was bought by Henry E. The lawsuit claimed the Paper Jamz toy guitars copied the looks of some of Gibson’s famous guitars, the Gibson Les Paul, the Gibson Flying V, the Gibson Explorer, and the Gibson SG.On December 21, 2010 Gibson was granted a request for an injunction against Wow Wee and retailers in the United States which were selling Paper Jamz guitars: Wal Mart, Amazon (company), Big Lots stores, Kmart Corporation, Target Corporation, Toys “R” Us, Walgreens, Brookstone, Best Buy, e Bay, Toywiz.com, and Home Shopping Network (HSN) In 2011, Gibson acquired the Stanton Group, including Cerwin Vega, KRK Systems and Stanton DJ.In 1986, the company was acquired by its present owners. In 1936 Gibson introduced their first "Electric Spanish" model, the ES-150 followed by other electric instruments like steel guitars, banjos and mandolins.Gibson is a privately held corporation owned by its chief executive officer Henry Juszkiewicz and its president David H. In addition to guitars, Gibson offers consumer electronics through its subsidiaries Gibson Innovations (Philips brand), TEAC Corporation (Teac and Esoteric brands), Onkyo Corporation (Onkyo and Pioneer brands), Cerwin Vega and Stanton, Orville Gibson began to sell his instruments in 1894 out of a one-room workshop in Kalamazoo Michigan. During World War II, instrument manufacturing at Gibson slowed due to shortages of wood and metal, and Gibson began manufacturing wood and metal parts for the military.

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