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While Steinway??s fine image and reputation was unquestioned, the business wasn??t particularly profitable. In addition to it, due to some stockholders who were unwilling to invest but mainly interested in income, Steinway??s financial conditions became worse, so the family company came to an end, was sold to CBS. CBS recognized that the business didn??t fit its corporate strategy. In 1985, CBS sold the company to John and Robert Birmingham, Boston-based investors. Under Birmingham, Steinway returned to its former stature, stressing quality and focusing on the high-end market. But ten years later, Steinway is also sold two investors, Kyle Kirkland and Dana Messina because of financial problems...
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