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The U-matic format was successful in businesses and some broadcast television applications, such as electronic news-gathering, and was produced by all three companies until the late 1980s, but because of cost and limited recording time, very few of the machines were sold for home use.[citation needed] Therefore, soon after the U-Matic release, all three companies started working on new consumer-grade video recording formats of their own. Sony started working on Betamax, Matsushita started working on VX, and JVC released the CR-6060 in 1975, based on the U-matic format.