The Rank Organisation Davis cut staff, reduced budgets and concentrated film production at Pinewood. Other studio facilities (in Islington) were closed, sold (Lime Grove Studios) or leased (Denham). The Rank Organisation closed Independent Producers Ltd. The policies of Davis alienated many in the industry, in particular they led film director David Lean, responsible for some of Rank's most critically and financially successful films, to look elsewhere for backing. In 1949, the company bought the Bush Radio manufacturing facility and began to diversify its interests. In the early 1960s Rank took over Murphy Radio to form the Rank Bush Murphy Group (which was eventually
Rank Xerox Corporation. He then moved to the corporation's headquarters in Connecticut where he was responsible for the decentralization program of the company as one of its top directors. The remaining 20% stake owned by the Rank Organization in Rank Xerox was bought out by the parent Xerox Corporation for ₤940 million in 1997. The Rank Xerox name was discontinued following the buyout, and the Rank Xerox Research Centre was renamed to the Xerox Research Centre Europe. Rank Xerox Rank Xerox was formed in 1956 as a joint venture between the Xerox Corporation of United States (a.k.a. Haloid Photographic) and the Rank