Harris to Sell Off Broadcast Division
Written by Gary Stigall
Wednesday, 02 May 2012
Harris Corporation announced yesterday that it intends to divest its Broadcast Communications division. Since its acquisition of Gates Radio in 1957, Harris has remained a serious player in the broadcast electronics field. In the 1990’s, it worked to become an end-to-end solutions provider, acquiring such diverse and quality companies as Leitch, Videotek, Louth, Encoda, Intraplex, and even local audio console manufacturer Pacific Research & Engineering.
Harris Morris, president of the Broadcast Communications Division, released a statement supporting the sale:
“Today, Harris announced its decision to divest the Broadcast Communications business. I fully support this decision and believe that the timing is right for both Harris and Broadcast Communications.
“Operating independently or as part of a broadcast or media-focused enterprise will provide us with strategic investment, increased competitive flexibility, and customer focus to lead the continuing transformation in this competitive marketplace.
“The decision to divest in no way reflects the quality of the work Broadcast Communications performed in support of our customers and our company. Harris simply determined that Broadcast Communications could provide higher value and operate more effectively under a different ownership model.
“In the interim, Broadcast Communications will continue to be a part of Harris Corporation and operate business as usual. Our valued relationships, both longstanding and new, remain our top priority. The global team will continue to work diligently to ensure our commitment to our customers and partners remains steadfast, our execution to fulfill commitments is flawless, and our progress against strategic objectives remains focused.”