In 1958 the Altec Lansing Corporation was purchased by James Ling who made it part of LTV Ling Altec. LTV spun off Altec which it loaded down with debt first. By 1974, the company was saddled with debt. It was reorganized under Chapter 11 as Altec Corporation and continued for 10 years. Altec filed a second bankruptcy. In 1984, Gulton Industries purchased the brand out of Chapter 11 bankruptcy. Gulton was acquired by Mark IV Audio.Since then, there has been a string of owners, purchased in 1986 by Sparkomatic, with the Pro equipment still made by Mark IV Audio, Mark IV sold out to Telex, who closed down the Pro division and folded its products into Electro-Voice. In 2005 Altec Lansing Technologies was acquired by Plantronics, 2009 bought by Prophet Equity, and has been owned since 2012 by the Infinity Group, a company which acquires struggling companies.