Magnavox was originally acquired by North American Philips Corporation in 1974. North American Philips Corporation (NAPC) is owned by FGP Corporation, which is in turn wholly owned by N.V. Philips' Gloeilampenfabrieken of The Netherlands. In 1991, Magnavox was officially renamed Magnavox Electronic Systems Company (MESC), replacing Magnavox Government and Industrial Electronics Company (MAGIEC).