Q: What really happened?
A:
Donald Benge originally sold the company to Leisure Time Industries, who owned it briefly. King, then owned by Seaburg, the jukebox company, desired to purchase the Benge from Leisure Time. Seaburg was, at the time, seeking admission to the New York Stock Exchange (i.e., go public). As a condition of admission, Seaburg was required to disclose a considerable financial information, including proposed acquisitions and so forth. Because all appropriate documentation had previously been filed, and Seaburg did not wish to alter it thereby delaying approval, they arranged with the late Chuck Levin, the proprietor of Washington Music Center, Inc., the amazingly large retailer in Wheaton, Maryland (suburban Washington, D.C.), to purchase Benge, with the understanding that Seaburg (King) would then purchase it from Levin. Mr Levin died in 2003.
This indeed transpired, although the original time of transitional ownership was intended to last only a few months, it took eight or nine months to complete.