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Pioneer hasn't been sold to my knowledge, they may have restructured, but never sold. Pioneer Elite and Premier lines have been at the top of the home and car fields for some time now. Now, of course they have cheaper lines that perform worse but cost less but so does everyone else.
And I have found Pioneer Rev's to be an excellent series of coaxial speakers.
Well, over the years, I've installed dozens of car stereo systems and I've watched pioneer's head units get better and better, and their speakers get worse and worse...
But, I just read that they won on october 10th at the 2005 dB Drag World Finals, setting a world record of 178db. That says something for the company.. But then again, cranking out earth shattering bass and cranking out crystal clear sound are two entirely different things.
My CRX had a full pioneer system in it. Components up front (6.5 mid, tweaters, crossovers) and 4 way 6x9's in the rear, with a 200 W amp running the Component setup. It sounded AWESOME. Very clear, very nice. So I can't say that they are shit I suppose.. But lately their speakers have been taking a turn for the worse.
*edit*.. Remember when they changed the logo from the wrench looking thing to just the word "pioneer" written as it is now? That same month, radio shack started carrying pioneer products. But strangely, the pioneer DVD player was EXACTLY the same as the RCA dvd player. Just different badges. Same with the home audio. For a while there, we had two of everything and you got to pick the brand you wanted. I can't seem to pull up anything on google, but I'm pretty damn sure Pionner sold out to RCA that year. And thats when the speakers started sucking.