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
The Rank Organisation sold to Great Universal Stores in 1978). In 1956 Rank began a partnership with the Haloid Corporation to form Rank Xerox. Rank was also a significant shareholder in the consortium which became Southern Television, the first ITV television contract holder for the south of England. In the late 1950s, Rank set up Rank Records Ltd. (the record label was named Top Rank) and Jaro Records (a US subsidiary). In 1960, Top Rank was taken over by EMI, and in 1962 they replaced it with Stateside Records. Top Rank artists included Gary U.S. Bonds, the Shirelles, B. Bumble and the Stingers,