M&K Closes Shop after 34 Years

A sad day in the speaker industry, after 34 years in business M&K will be closed down. Heading on over to the M&K's site, I couldn't find any information behind the closure.  CEPro has a bit more information on the history of M&K.

From the article:

Kreisel credits M&K for introducing "first world's modern day
satellite-subwoofer speaker system" in 1976, according to a bio of the
CEO. Today, the bio continues, "virtually all home theater systems are
based on this satellite-subwoofer design."

According to the bio, M&K was "a pioneer in direct-to-disc and
digital recordings, and in 1982 M&K's RealTime Records division
became the first U.S. record company to release compact discs (CDs)."