New York's Hit Factory Studio to Close

[johnnie]

NEW YORK (Billboard) - The Hit Factory, one of New Yorks largest and best-known recording facilities, will close within a month.
The company will move its headquarters to its Miami facility, the former Criteria Recording, which the Hit Factory acquired in 1999. The future status of the New York studio at 421 W. 54th St. is unknown.
Since the late Edward Germano purchased it from producer/composer Jerry Ragavoy in 1975, the Hit Factory has become one of the world's most celebrated recording facilities, offering an opulent work environment for the likes of John Lennon, Michael Jackson, Tony Bennett, Bruce Springsteen, Stevie Wonder, Madonna, U2, Barbra Streisand and Paul Simon. It has long been favored by top producers and engineers.

http://story.news.yahoo.com/news?tmpl=story&cid=769&e=4&u=/nm/20050203/music_nm/music_hitfactory_dc

Another end of an era. I also heard news that the only U.S. Manufacturer of magnetic tape went Bankrupt. No more analog?