▁Inc ., ▁a ▁magnetic ▁t ape ▁manufact urer ▁listed ▁on ▁the ▁American ▁Stock ▁Exchange , ▁and ▁changed ▁the ▁name ▁of ▁the ▁surv iving ▁company ▁to ▁Capit ol ▁Indust ries , ▁Inc ., ▁of ▁which ▁Living ston ▁was ▁named ▁President . ▁It ▁was ▁during ▁this ▁period ▁that ▁he ▁turned ▁Capit ol ▁Records ▁into ▁a ▁more ▁rock - orient ed ▁company ▁with ▁such ▁artists ▁as ▁The ▁Beach ▁Boys , ▁Steve ▁Miller , ▁The ▁Band , ▁and ▁others . ▁His ▁most ▁not ew orth y ▁accomplish ment ▁at ▁that ▁time ▁was ▁agree ing ▁to ▁release ▁the ▁Beat les ' ▁" I ▁W ant ▁to ▁Hold ▁Your ▁Hand " ▁for ▁Capit ol ▁in ▁ 1 9 6 3 , ▁after ▁having ▁rejected ▁all ▁their ▁previous ▁singles ▁as ▁un su itable ▁for ▁the ▁U . S . ▁market ▁despite ▁Capit ol ▁being ▁owned ▁by ▁The ▁Beat les ' ▁U . K . ▁record ▁company , ▁E MI . ▁ ▁Later ▁vent ures ▁Living ston ▁later ▁sold ▁his ▁stock ▁in ▁Capit ol ▁Indust ries ▁to ▁form ▁his ▁own ▁company , ▁Medi arts , ▁Inc ., ▁for ▁the ▁production ▁of ▁motion ▁pictures , ▁records ▁and ▁music ▁publishing . ▁He ▁eventually ▁sold ▁his ▁interest ▁in ▁that ▁company ▁to ▁United ▁Art ists ▁as ▁a ▁result , ▁particularly , ▁of ▁its ▁success ▁in ▁the ▁record ▁business ▁including ▁Don ▁Mc Le an , ▁who ▁reached ▁the ▁# 1 ▁position ▁in ▁the ▁country ▁with ▁his ▁" American ▁Pie " ▁single ▁and ▁album ▁in ▁ 1 9 7 2 . ▁Two ▁feature ▁motion ▁pictures ▁were ▁completed