Chris-Craft Boats was an independent company until it was acquired by Shields & Company's NAFI Corporation in 1960 and merged with NAFI. They renamed the merged company Chris-Craft Industries, Incorporated in 1962. In 1962, the company acquired the Old Crown Brewing Corporation, a brewery company based in Fort Wayne, Indiana. Old Crown was sold to its employees a short time later.
In 1964, Chris-Craft launched the all-fiberglass Chris-Craft Commander. This dramatic new design was unveiled at the New York City National Boat show, perched at the top of an escalator on a giant, castered cradle. This first Commander was a 38' express hardtop with a 13' beam. The line of Commanders soon grew to include sizes ranging from 19' to 60'—all "styled in fiberglass."
Subject ID: 5415
MoreChris-Craft Boats was an independent company until it was acquired by Shields & Company's NAFI Corporation in 1960 and merged with NAFI. They renamed the merged company Chris-Craft Industries, Incorporated in 1962. In 1962, the company acquired the Old Crown Brewing Corporation, a brewery company based in Fort Wayne, Indiana. Old Crown was sold to its employees a short time later.
In 1964, Chris-Craft launched the all-fiberglass Chris-Craft Commander. This dramatic new design was unveiled at the New York City National Boat show, perched at the top of an escalator on a giant, castered cradle. This first Commander was a 38' express hardtop with a 13' beam. The line of Commanders soon grew to include sizes ranging from 19' to 60'—all "styled in fiberglass."
In 1968, Baldwin-Montrose Chemical Co., Inc. took a controlling interest in Chris-Craft and installed its chairman, Herbert J. Siegel, as Chris-Craft's chairman.
Chris-Craft Industries formed BHC, Inc. to hold its two existing television stations, KCOP in Los Angeles and KPTV in Portland, Oregon, both placed within BHC's Chris-Craft Television, Inc. subsidiary. That same year, Chris-Craft purchased a share of 20th Century Fox. In 1981, the 20th Century Fox share, then at 20 percent, was traded for 19 percent of United Television.
Between the 1960s and 1980s, Chris-Craft lost market share as competitors with more innovative designs and less expensive manufacturing techniques such as fiberglass hulls came on the scene. Chris-Craft ended production of its last mahogany-hulled boat, the Constellation, in 1971.
Chris-Craft Industries sold its boat division to Murray Industries in 1981. Chris-Craft Industries retained the Chris-Craft trademark and licensed it to Murray. Outboard Marine Corporation acquired the company in 1989. OMC went into bankruptcy in 2000 and was purchased by Genmar. Genmar sold the Chris-Craft division to Stellican, Ltd., then Stellican purchased the Chris-Craft trademark from News Corporation thus reuniting the two parts of the company.
Chris-Craft Industries was acquired by News Corporation in 2000 for its television subsidiaries.
Subject ID: 5415
Subject ID: 5415