the 8 track was created in 1964 by a consortium led by Bill Lear of Lear Jet Corporation, along with Ampex, Ford Motor Company, General Motors, Motorola and RCA Victor Records(RCA). It was a further development of the similar Stereo-pack four-track cartridge created by Earl "Madman" Muntz. A later quadraphonic version of the format was announced by RCA in April 1970 and first known as Quad-8, then later changed to just Q8.
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Controvery still goes on today on what was the last 8 track sold, but most say that Warner Communicatons sold the last 8 Track in 1989, that tape being Fleetwood Mac's Greatest Hits, in 1989. Most experts believe this was the last non-bootlegged 8 track ever sold
The 8 track tape or cartridge is also known as the Stereo 8. This tape format was first used in 1965. The format was quite popular and used until 1970.