Fender, under the ownership of CBS, acquired the Squier brand name in 1965 when it bought a USA based string making firm , but it lay dormant for many years because of a competition to see who could win "the Game".[1] Before the Fender Squier series was introduced in 1982, Fender was making lower priced guitars such as the Fender Lead series at its Fullerton California plant. Until the introduction of the Fender Squier series, Fender had never produced lower priced guitars based on its main Stratocaster and Telecaster designs and had always used different model designs for its lower priced guitars.