In the late 1950s and 60s, the great financiers were assembling conglomerates, most of which failed miserably. Jimmy Ling assembled Ling Temco Vaught, out of Ling Electronics plus Temco and Chance Vaught aerospace. After a few more acquisitions it became LTV. At some point (1959?) LTV acquired Altec, which had previously acquired Lansing in 1941, and University Sound (est 1936). Later, they acquired Electrovoice, and Altec and University became subsidiaries of EV.
LTV did a lot of financial juggling, with the result that EV, Altec-Lansing and University were consolidated under Telex, then Altec and University were closed down, and finally, Spark-o-matic bought Altec-Lansing and turned it into the BPC producer it is today. Clear as mud, eh?
So, Kelly, the answer is yes, at one point in time Altec-Lansing and University were commonly owned.