June 12, 1982
3M Buys Out Discovision Pilot Plant
DiscoVision Assoc, continues to sell off its remaining properties as 3M last week announced that it had purchased DVA’s pilot plant in its home base of Costa Mesa, Calif. In February, if you recall, DVA sold its interest in Universal Pioneer Corp. (UPC) to Pioneer Electronics, making it sole owner of UPC’s optical videodisc and player production facilities in Japan (Cash Box, Feb. 13). DVA was also set to close down its Carson, Calif, plant, but when Pioneer couldn’t duplicate R-rated material at its Kofu plant, it purchased that operation as well. A spokesman for DVA at the time noted that this signaled a transition for the company from manufacturing to portfolio management, adding that personnel would be reduced to 5-10 people, but many suspected that they were merely downplaying their quiet dissolution.