Misplaced Pages

#882117

31-794: The Fender Music Foundation, formerly The Guitar Center Music Foundation, was established in 2005 in Westlake Village , California by Larry Thomas when he retired as CEO of Guitar Center , Inc. The foundation became active in 2006, raising $ 765,000 and awarding its first grants at the end of that year. By the end of 2007, their grants benefited over 10,000 people in 20 states. To date the foundation has awarded instruments, equipment and money to 65 organizations. Some of these recipients include schools, educational centers for those who are to be released from prison, community music centers and therapeutic music programs. By March 2008, grants had been awarded to programs in 24 states. The list of programs

62-494: A silent auction featuring signed and rare memorabilia with all of the proceeds, including ticket sales, going toward music education programs. FMF has also hosted events with master guitarist Pepe Romero and the New West Symphony . FMF's most recent event was a benefit entitled "The Gift of Music." This event featured celebrity guests, an art exhibit by Paul Thatcher, music from Koffehouse recording artists ,

93-818: A $ 1.9 billion buyout from Bain Capital , totaling $ 2.1 billion including debt. The deal was led by Goldman Sachs and amounted to a per-share price of $ 63, or a 26% premium on the June 26 closing price. The deal was approved by shareholders on September 18, 2007, and closed October 9, 2007. In mid-2009, Guitar Center opened its first rehearsal and lessons studio facility in Woodland Hills, California, consisting of eight studios with backline, ranging in size from 350–550 square feet (33–51 m ). In 2011, Musician's Friend's headquarters operations were moved to Guitar Center's facilities in Westlake Village, California . In

124-524: A debt-cutting deal with key investors and lenders. Guitar Center said it had received up to $ 165 million in new equity, and lenders agreed to reduce its debt by around $ 800 million. The company emerged from Chapter 11 bankruptcy on December 23, 2020, after a reorganization deal added additional equity and debt capital. In 2004, the Guitar Center began a "Legends Collection" with guitars made famous by Eric Clapton , Stevie Ray Vaughan , and U2 's

155-498: A few of the artists who support the foundation with signed memorabilia items. In early 2008 the foundation began a relationship with Auctionwire.com. This auction-based website will enable the foundation to auction off higher end memorabilia and meet and greets with celebrities like Don Felder and Alan White. Charity events also play a large role in the Foundation's fundraising efforts. The Fender Music Foundation has hosted

186-531: A live audience and a panel of celebrity judges at Guitar Center's Drum-Off finals in Los Angeles, California. In the finals, each contestant was required to perform on a 5-piece acoustic drum kit complete with hardware, cymbals, cowbell, throne and the option to incorporate a Roland SPD-30 Octapad (the SPD-30 was not included in 2016). Contestants were evaluated by a panel of independent and credible judges on

217-525: A new 28,000-square-foot flagship location in Times Square in New York City . The opening included a concert featuring The Roots . The Guitar Center Times Square location became the permanent home of Eric Clapton 's Blackie Fender Stratocaster , which had been purchased at a Christie's Crossroads Centre auction in 2004 for $ 959,000. In April, 2017, Moody's Investors Service revised

248-708: A number of music benefits since its creation in 2005. In March 2006 the Music Foundation hosted "An Evening with Ray Kennedy and Friends." This event hosted by the foundation featured performances by Macy Gray , The Dave Mason Band, The Syn , California Transit Authority , the Los Angeles Guitar Quartet, Gia Ciambotti and celebrity band 16:9 which includes House 's Hugh Laurie , Alias ' and Felicity 's Greg Grunberg , Desperate Housewives ' James Denton , The Bachelor 's Bob Guiney and many special guests. The event also included

279-540: A silent auction featuring memorabilia including a Jimi Hendrix gift basket donated by Janie Hendrix. Celebrity guests included contestants John Boone and winner Maria Hartman from VH1 's The Shot , protégé drummer Tony Royster , and drummer Danny Seraphine from the band Chicago. All proceeds from this event were used to benefit music programs across the country. Music Rising was started by U2 's The Edge in partnership with The Guitar Center Music Foundation and Gibson Guitars in order to raise funds to replace

310-606: A tour of musical events and Guitar Center locations, such as the one held at Madison Square Garden as part of Clapton’s Crossroads Guitar Festival in April 2013. In August 2014, Clapton’s Blackie and ES-335 were moved to a new permanent location in Times Square . Clapton's cherry red Gibson 335 was used to record Cream’s versions of "Badge" and "Crossroads (from their final live performance in November 1968), and other historical performances over 40 years. Steve Ray Vaughan’s "Lenny"

341-685: A wholly owned subsidiary, with its headquarters remaining in Medford, Oregon . In 2005, Guitar Center Inc. acquired Music & Arts, the largest band and orchestra dealer in the United States, and merged it with their American Music Group chain of band and orchestral stores. The company was renamed Music & Arts. The same year, Guitar Center, Inc., started The Fender Music Foundation , a nonprofit organization that supported music education. In 2006, Guitar Center acquired four stores in Texas from

SECTION 10

#1732801016883

372-697: Is hosted by Nic Harcourt , and was created, developed and produced by Guitar Center exclusively on DirecTV . Guitar Center Sessions has won several awards, including a Lumiere Award from the International 3D Society for the episodes featuring Jane's Addiction and Peter Gabriel . To celebrate Guitar Center's 50th anniversary, Linkin Park performed on October 24, 2014, with the performance first airing via DirecTV on December 5, 2014. The At: Guitar Center web series (formerly At: Guitar Center podcast) features interviews and intimate performances with some of

403-533: Is the largest company of its kind in the United States. The company oversees several subsidiaries, including Musician's Friend, AVDG, Music & Arts , Woodwind & Brasswind , and Giardinelli . Guitar Center was founded in Hollywood in 1959 by Wayne Mitchell as The Organ Center , a retailer of electronic organs for home and church use. In 1964, after a supplier required him to carry Vox guitar amplifiers , to continue receiving organs, Mitchell added

434-501: The Fender Music Foundation ) established Music Rising, a charity to benefit musicians whose lives had been disrupted by Hurricane Katrina . In 2007 The Edge donated his guitar to be auctioned for the charity and It was sold for $ 240,000 to Guitar Center ($ 288,000 including Buyer's Premium). From 1988 through 2016, Guitar Center conducted an annual search for the next great undiscovered drummer. Developed to spotlight

465-669: The Edge . The Centre purchased Clapton’s “ Blackie ” Fender Stratocaster for $ 959,500, his vintage Gibson “ ES-335 ” for $ 847,500, and Vaughan’s “ Lenny ” Stratocaster for $ 623,500, a total of over $ 2.4 million, in the Clapton Crossroads Centre charity auction at Christie's , New York. The Edge’s cream white Gibson Les Paul Custom was purchased for $ 240,000 at the Music Rising Charity Auction in 2007. The collection has been exhibited in

496-558: The General Manager of the San Francisco store, purchased the company from Wayne Mitchell. The 1980s saw a resurgence in "guitar rock," led by bands such as Van Halen Van Halen and an influx of Japanese -produced instruments. This period brought significant growth in guitar sales, prompting Guitar Center to expand nationwide, eventually becoming the largest musical instrument retailer in the United States. Scherr sold

527-2162: The Guitar Center. The inaugural inductees were music gear pioneers Jim Marshall , Robert Moog , Les Paul , and musicians Eddie Van Halen and Stevie Wonder . Currently, over 150 more honorees are enshrined. Other inductees include Elvis Presley , Chuck Berry , Bo Diddly , Carole King , Alice Cooper , Holland-Dozier-Holland , Herbie Hancock , the Black Crowes , The Ramones , Dick Clark , Willie Dixon , Buddy Guy , KISS , John Lee Hooker , Smokey Robinson , Solomon Burke , John "Jabo" Starks , Robert Cray , Etta James , Ike Turner , Kim Se-hwang , Muddy Waters , B'z , Eric Clapton , AC/DC , Aerosmith , Alanis Morissette , B.B. King , Black Sabbath , Carlos Santana , Cheap Trick , Def Leppard , Ernie Ball , Grandmaster Flash , Iron Maiden , James Brown , Jerry Lee Lewis , Jimi Hendrix , Jimmy Page , Joan Baez , Joe Satriani , Bonnie Raitt , Kenny Loggins , Johnny Cash , Layne Staley , Little Richard , Lynyrd Skynyrd , Melissa Etheridge , Nancy Wilson , Queen , Roky Erickson , Clyde Stubblefield , Slash , The Doobie Brothers , The Wrecking Crew , Van Halen , Vince Gill , Simon Kirke , Lizzo , Nick Cave , Thin Lizzy , Judas Priest , Oasis , Mud , Korn , In Flames , Jakob Dylan , BTS , Yola , Gary Clark Jr. and Chick Corea . Debuting in 2010, each episode of Guitar Center Sessions showcases exclusive live performances by noteworthy artists captured in hi-definition at Guitar Center's iconic Hollywood , California location. Past guests include Linkin Park , Saint Motel , Wiz Khalifa , Billy Idol , The 1975 , Sum 41 , Weezer , Smashing Pumpkins , Peter Gabriel , Alanis Morissette , 311 , Megadeth , Snoop Dogg , Soundgarden , Seether , The Cult , Cake , Jakob Dylan , Tame Impala , Rodrigo y Gabriela , Bush , Ben Folds Five , Korn , Joan Jett , Cheap Trick , Skylar Grey , Peter Frampton , Frank Turner , J Balvin , Coheed and Cambria , Debbie Harry , Kraftwerk and Jane's Addiction . Guitar Center Sessions

558-702: The South Texas and Central/South American company, Hermes. In the same year, Activision partnered with Guitar Center, and all purchases made during game play of Guitar Hero , beginning with the second installment, were made in a virtual Guitar Center store. In February 2007, the Musician's Friend division acquired assets of the Indiana-based company Dennis Bamber, Inc., which included band and orchestra retailer Woodwind & Brasswind, plus Music 123 and Lyons Music. In June 2007, Guitar Center agreed to

589-577: The amplifiers to his inventory and renamed the store The Vox Center, leveraging the Beatles association with the Vox brand. In the late 1960s, as other brands like Marshall gained popularity, Mitchell renamed the store Guitar Center. By 1972, Guitar Center had expanded to eight locations, including stores in San Francisco , San Diego and suburbs of Los Angeles . In the late 1970s, Ray Scherr,

620-462: The biggest names in music. Some past guests have included Travis Barker , Sevendust , T-Pain , Joe Bonamassa , The Crystal Method , Buddy Guy , Elmer Bernstein , Daughtry , Jimmy Cliff , Meiko , Lee Jong-suk , Rza , Steve Vai , Joe Satriani , Brandi Carlile , and Minus the Bear . The podcast is hosted by Nic Harcourt and is available on the iTunes , Zune and BlackBerry networks and on

651-470: The company dropped from B to 'CCC+'. In April 2014, Ares Management took a controlling stake in Guitar Center. Bain Capital, Guitar Center's former owner, retained partial ownership of the company, along with representation on the board. According to Mike Pratt, the retailer's previous chief executive, the deal would reduce Guitar Center's total debt and provide it with the resources to expand and invest in its business. In August 2014, Guitar Center opened

SECTION 20

#1732801016883

682-537: The company in 1996. The following year, with 30 stores on the West Coast and in Michigan, Ohio, and Florida, Guitar Center made an initial public offering of stock and opened more new locations. In 2000, Guitar Center acquired mail order and e-commerce retailer Musician's Friend for $ 50 million, and claimed the merged company was the world's largest seller of musical instruments. Musician's Friend became

713-743: The drumming community, the Drum-Off was the music retailer’s longest running artist-discovery program. The process of Guitar Center’s Drum-Off began with three rounds of preliminary competitions at each of Guitar Center's 250+ locations nationwide, with each contestant allowed five minutes of set up time and three minutes to perform. One winner from each store final competition advanced to one of 30 quarterfinal competitions, and one winner from each quarterfinal competition advanced to one of five semifinal competitions, during which contestants were allowed five minutes to perform. The winners from each of these five semifinal competitions qualified to compete in front of

744-419: The following criteria: skills & technique, groove, originality, stage presence, and overall performance. Guitar Center discontinued their sponsorship of the annual contest in 2017. The Sunset Boulevard location in Los Angeles hosts Hollywood's RockWalk , a hall of fame, honoring musical artists. Founded in 1985, artists are invited to place their handprints into cement blocks that are put on display at

775-590: The foundation established a relationship with President Jimmy Carter and his organization, Carter Center . The Music Foundation will be providing musical instruments and memorabilia to the Carter Center auctions in return for publicity and the Carter Center's public support of the Guitar Center Music Foundation and the importance of music in people's lives. The Fender Music Foundation relies solely on charitable donations from

806-428: The foundation supports is continually growing as they receive numerous grant applications every year. Unfortunately, the Foundation is also forced to reject many of the applicants each year due to application discrepancies. Discrepancies include incorrectly completed applications, applicant programs that are not within the scope of the foundation's grants, or requests for items that GCMF does not award. In February 2008

837-604: The lost instruments and accessories of the musicians affected by the hurricanes that devastated the Gulf Coast region in 2005. Exclusive guitars manufactured by Gibson were available exclusively through the Guitar Center Website with all proceeds going towards the goals of Music Rising. Guitar Center Guitar Center, Inc. is an American musical instrument retailer chain headquartered in Westlake Village, California . It operates 304 locations and

868-547: The outlook on Guitar Center's B2 rating to negative. In the face of flat sales in the musical instrument industry as a whole, Guitar Center became overwhelmed by its $ 1 billion debt. Guitar Center filed for bankruptcy in 2020 and the Times Square location was closed. On November 13, 2020, during the COVID-19 pandemic , Guitar Center announced that it planned to file for Chapter 11 bankruptcy protection after negotiating

899-782: The public and funds raised through the selling of music memorabilia. Memorabilia sales are made online through the foundation's own e-store and marketed through fan sites . Items such as signed posters , guitars, songbooks and records are all sold to raise money for music programs. Artist memorabilia includes artists such as The Eagles , The Black Label Society, Guns N' Roses , Ozzy Osbourne , Zakk Wylde , KISS , New Found Glory , Lynyrd Skynyrd , Hank Williams Jr. , John Mayer , James Blunt , The Beach boys , Green Day , Elvis Costello , Carrie Underwood , Def Leppard , Iggy Pop , Fiona Apple , Alice in Chains , Pantera , Jimi Hendrix and his sister Janie Hendrix. These names are just

930-511: The same year, Guitar Center began offering equipment rentals in one of their San Diego stores. Rental departments were extended to ten other locations, with plans to offer rentals across the country. In May 2013, Standard & Poor's cut its debt rating on Bain Capital-owned Guitar Center Holdings Inc. to " junk bond " status, citing struggles with "weak operating trends." The corporate credit rating on

961-414: Was used to record his classic love songs, including "Lenny" and "Riviera Paradise". The Edge's cream-colored 1975 Les Paul Custom, faded from its original white, had been used for U2's stage and studio performances. All the proceeds from the sale of these guitars went to Clapton’s Crossroads Center charity. In 2005, the Edge, producer Bob Ezrin , Gibson, and the Guitar Center Music Foundation (now known as

Fender Music Foundation - Misplaced Pages Continue

#882117