Universal Pictures was originally formed on June 8, 1912 by Carl Laemmle, a German-Jewish immigrant who settled in Oshkosh, Wisconsin, where he managed a clothing store. It is the second oldest studio in Hollywood (beaten by one month by Paramount Pictures). However, it was fully established in 1915. In 1946, Universal merged with International Pictures, headed by Leo Spitz and William Goetz. This team ran Universal-International, while Nate Blumberg and J. Cheever Cowdin remained at the helm of Universal Pictures, the parent company. In late 1951, Universal-International was acquired by Decca Records. In 1962, Music Corporation of America (MCA) purchased Decca Records and with it, Universal-International Pictures, leaving Milton Rackmil and Edward Muhl in charge, while Dr. Jules Stein (Board Chairman) and Lew Wasserman (President) guiding MCA. As a result of a consent decree with the justice department, MCA divested itself of its talent agency business. In 1990, MCA/Universal was acquired by Panasonic Corporation and later sold to Seagram and Sons in1995. On December 9, 1996, MCA was reincorporated and renamed as "Universal Studios". In December 2000, French company Vivendi acquired Universal Studios from Seagram and Sons and formed Vivendi Universal Entertainment. On May 11, 2004, it was part-owned by Vivendi SA (20%) and General Electric (80%) and became a subsidiary of NBC Universal, Inc. On January 26, 2011, Vivendi S.A. sold the remaining 20% of NBC Universal to GE until January 28, when Comcast Corporation acquired a 51% controlling interest of the renamed NBCUniversal, LLC, and the remaining stock (49%) from GE on March 19, 2013.