Many a U.S. manufacturer has hungrily eyed the underdeveloped British TV-phonograph market: only 65% of all British households have TV sets, v. 90% in the U.S. But the market is tough to bite into; purchase taxes and distribution costs are high. Philco sold its British subsidiary after trying; other major U.S. manufacturers shied away. Last week Magnavox Co. announced that it will go out after the British market in force.
Magnavox acquired 70% of the stock of Collaro Ltd., British manufacturers of record changers used by Magnavox. The move's real importance is that the rest of Collaro's stock is held by...