left to operate as wholly-owned but independent divisions. The buying continued through the 1960s, added Signalite in 1966 and Universal Controls and American Totalisator in 1967. A more major purchase was Jerrold Electronics in December 1967, which became the company's consumer-facing brand for television-related products, mostly through their cable television products. 1970 saw a series of layoffs and downsizing as the poorly performing parts of the conglomerate began to drag down profits. As part of this, the company's interest in several cable television stations were sold off, mostly through their Jerrold division. As soon as the company's financials improved, the buying spree started anew, buying another five companies by 1975. This had turned them into a $500-million-a-year company, but left them deeply in debt. Hickey era Shapiro retired in 1975 and was replaced by Frank Hickey, who focused the company on its two most profitable markets, cable television and gaming. The gaming market was primarily through their purchase of American Totalisator, who ran racetrack systems. GI expanded this into off-track betting and by 1979 they supplied 90% of all the off-track systems in North America. By 1980, Hickey had managed to sell off most of the poorly-performing divisions and company debt had been reduced from 100% of assets to 20%. The success with American Totalisator began to wane as other companies, notably Control Data and Datatrol, began to push down profits. But any losses in this market were overshadowed by the massive expansion of cable television, which quickly took over from the betting systems as the company's primary profit center. In October 1982 they won a $100 million contract to supply over 300 cable TV stations with head end systems. Through the mid-1980s the company suffered a series of reversals. Looking for new markets, in 1986 they bought M/A-COM's cable division. M/A-COM had earlier purchased VideoCipher, who had developed the industry-standard system for scrambling and decoding satellite television signals, VideoCipher II. This product took some time to start to sell, but by 1987 they were seeing demand outstrip supply. By the end of the year they had total sales of $1.16 billion. This success was short-lived, and by 1990 they were once again operating at a loss. Rumsfeld era In August 1990, the company was purchased in a friendly leveraged buyout of $1.6 billion by the FLGI Holding. In October 1990, they announced that Hickey would be replaced by Donald