James Ling purchased the Altec Lansing Corporation from the ailing George Carrington, Sr., in 1958. By the time James Ling spun Altec Lansing off in 1974, his company, LTV-Ling-Altec, had heavy debts. In 1984, Gulton Industries, Inc., purchased the Altec Sound Products Division from the Altec Lansing Corporation, which was operating under Chapter 11 of the U.S. Bankruptcy Code. Included with the purchase were the tooling, parts and product inventories, distributor network, designs, patents, and assets of the Sound Products Division of Altec Lansing. The motion picture theater sound installation and repair business, Altec Service Co., was sold to J. Bruce Waddell, then head of Altec Service, and comptroller Robert V. Gandolfi. They established it as A.S.C. Technical Services in Richardson, Texas.