TC Electronic, Gibson Merger: No Deal

April 10, 2008

Nashville and Risskov, Denmark - Apr 9, 2008 - Gibson Guitar and TC Group, the parent company of TC Electctronic and Tannoy, have discontinued discussions regarding a potential merger between the two companies. The two firms worked to consummate the deal within a targeted timeline, but a number of issues remained unresolved, and both Gibson and TC agreed that it was best that the merger proceedings not continue.