Well here’s a shocker like any we’ve heard all year! Japanese electronics maker and frontrunner in DJ systems & equipment, Pioneer, is reportedly seeking to at least receive bids on their lucrative DJ equipment division! According to an earlier report by Reuters, Pioneer DJ could sell for about 60 billion yen ($570 million) and it seems that global private equity firms are among the final bidders.
However, the Japanese Director for the Pioneer DJ division refutes the report and has submitted a press release that disproves the news, that they have finalized on any bidder. As of now, it seems that Pioneer is open to discussions and negotiations, based on market activity, before making any final decisions on who to sell, and whether to sell or not.
The company offers a wide range of products, including their famed CDJ line, along with mixers, headphones, speakers, and most recently their PLX-1000 turntable, all that mirror the technology we’ve witnessed in the global electronic music scene. So, to have one of the most prosperous divisions in electronic music seeking to take their hands off their DJ Equipment division is a worrying concern. Sources reveal that the current model includes selling off non-core assets to focus more on their automotive electronics.
Stay tuned for updates on this story.
[…] couple of weeks back, we’d shared scintillating news that, Japanese entertainment manufacturer Pioneer would be selling off its world-renowned DJ […]