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Gaylord Industries, Inc. history
Gaylord Industries, Inc. company history timeline
The two families incorporated the business in 1925 as the Oklahoma Publishing Company.
Asa K. Gaylord invented the Gaylord Ventilator and founded Gaylord Industries in 1936.
For example, Tom Griscom, who had been with WSM since 1950, remained as head of the Opry's broadcast operations.
The theme park, a musical show park that emphasized live country music, opened in 1972.
Edward King died in 1974 at the age of 101.
Asa’s son, Edson C. Gaylord, took over in 1974 and directed its growth into an internationally renowned company.
Ed’s son, Todd E. Gaylord began working for Gaylord Industries in 1978.
In 1979 Hayford left to become president of Harvester, where Pomerantz joined a year later as top lieutenant.
In 1983, Gaylord started beaming The Nashville Network (TNN), an advertiser-supported cable television network featuring country lifestyles and entertainment.
In December of 1985, the team of Pomerantz and Hayford started Mid-America Packaging, Inc., by acquiring an unbleached kraft paper mill and a multiwall bag manufacturing facility owned by Weyerhaeuser Company for $28 million, 20 percent of which was their own money.
In fact, Gaylord was able to unload one of his television stations in 1987 for a high $365 million.
One exception to the overall pattern of acquisitions was the November 1988 sale of its Baltimore, Ohio, paper mill to the principals of Somerset Capital Corp. of Boston for about $16.7 million.
In May of 1989 the company entered the grocery bag business by buying a New York-based grocery bag and sack converting facility from Stone Container Corp.
Beginning in the fall of 1989, operations were adversely affected by such factors as a substantial decline in the selling prices for Gaylord products and an increase in the cost of raw materials, particularly wood chips on the West Coast.
And in February of 1991, Gaylord acquired a 50 percent interest in Bay Sheets, Inc., a producer of corrugated sheets.
Beginning in June of 1991, the corporation also suspended payment of principal under its bank credit agreement.
By May, Gaylord and Gottesman each assumed a 50 percent interest in Gaylord Central National, Inc. (GNC), the primary agent for export sales, which amounted to 4 percent of net sales by 1992.
Yet the 1993 Standard & Poor's industry survey projected a much stronger economy in 1993, with rising prices and earnings for paper companies.
By the end of 1993, Gaylord Entertainment had become a diversified media and entertainment conglomerate that was on the road to becoming virtually dominant in the country music industry.
In 1994, Gaylord opened Wildhorse Saloon, a nightclub, restaurant, and television production studio.
In January 1997, the company acquired Word Entertainment, a Christian music label.
In 1997--a busy year for the company--Gaylord Entertainment appointed a new chief executive officer, company veteran Terry London, who had previously served as chief financial officer.
The sprawling mall was expected to draw 17 million visitors annually to Nashville, compared to the two million visitors the theme park attracted in 1997.
After teaming up with Arlington, Virginia-based The Mills Corp., Gaylord Entertainment broke ground on the Opry Mills project in October 1998, a $200 million, 1.2-million-square-foot retail and entertainment complex.
Soon after the sale of Gaylord Industries to Illinois Tool Works (ITW) in 1999, Todd left to begin his own company, Gaylord Marine Services, Inc.
On the site where the park once stood, Opry Mills opened in May 2000.
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