Jan. 4, 1965: An ailing Leo Fender sells his eponymous guitar and amplifier company to CBS. The acquisition gave the network — home at the time of “The Steve Lawrence Show” — control of the company responsible for the Stratocaster — the electric guitar that symbolizes the raw, sexual energy of rock ’n’ roll. The fit was not … comfortable. Many musicians consider the CBS era as the low point in Fender’s history. Fortunately, that ownership lasted only 20 years. In 1985, CBS sold the company — meaning its name and patents, but none of its tangible assets — to Fender’s top executives. A name like Fender, though, is priceless, and the management team was able to rebuild. Today, the Fender Musical Instruments Corp. boasts operating facilities throughout the world, and its roster of artists includes blues legend Buddy Guy, Rush frontman Geddy Lee and male sex symbol Sting. “The Steve Lawrence Show” was canceled after one season, but tonight on CBS, you can catch James Wood in an episode of legal drama "Shark" entitled "The Wrath of Khan." Priceless. —Jeffrey Kanige
See Fender's corporate history from Fender.com
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