Beats Electronics buys MOG

News Wireless Global 3 JUL 2012
Beats Electronics buys MOG
Beats Electronics, the company known for its Beats By Dr. Dre headphones, is acquiring the online music service MOG. Founded in 2005, MOG offers more than 16 million songs free online and by subscription on portable devices, LG and Samsung Smart TVs and other devices. Beats is 51 percent owned by HTC. HTC announced that the deal cost USD 14 million.

Categories:

Mobile,  Internet

Companies:

HTC,  MOG

Regions:

Global

Tags:

Consumer devices, Digital Music, Handsets, M&A buyouts & divestments

Related Articles

GLOBAL 23 JUL 2012

HTC halves stake in Beats

HTC is cutting its stake in the headphones maker Beats Electronics to 25 percent from 51 percent. It is selling half its stake to the other Beats shareholders in exchange for a note worth USD 150 million. HTC said the change in shareholdings "provides Beats with more flexibility for global expansion while maintaining HTC's major stake and commercial exclusivity in mobile". The companies will continue to work together and plan a joint global marketing campaign later this year. HTC acquired 51 percent in Beat

GLOBAL 22 MAR 2012

HTC to launch cloud music service in H2 - report

Taiwan-based handset maker HTC is expected to launch a cloud-based music service in the second half of this year. The company's subsidiary, Beats Electronics, will be responsible for planning the cross-platform and cross-device music service, The Digitimes reports citing industry sources. HTC and Beats are reportedly close to acquiring music subscription company MOG, although HTC has denied the report on the rumour. However, HTC has been active in the music space with takeovers of Saffron Digital and Onlive

GLOBAL 21 MAR 2012

Beats to buy music service MOG - report

Headphones maker Beats Electronics is buying music subscription service MOG, multiple sources familiar with the deal told All Things Digital. Beats is controlled by smartphone maker HTC. MOG CEO David Hyman has told reporters that MOG has 500,000 active users, but last month denied the company was up for sale.

GLOBAL 15 FEB 2012

HTC prepares music streaming service - report

HTC is working on the launch of a music streaming service, people familiar with the matter told GigaOm. HTC is said to be working on the project with music industry executive Jimmy Iovine, one of the founders of Beats Audio, in which HTC bought a substantial stake last year. The streaming service would be offered as a default music client on HTC phones and tablets. The company is also working on a wireless boombox that would most likely stream music from HTC phones over Bluetooth. The music service may be u

GLOBAL 13 JAN 2012

Beats ends partnership with Monster

Beats Electronics is ending its manufacturing partnership with Monster. Beats has opted not to renew its five-year contract with Monster when it ends late this year, Bloomberg reports. Though both companies publicly say the separation is amicable, the relationship turned sour over financial terms, with divergent views on which side deserves the most credit for the line's success and Beats balking at its share of the revenue, two people familiar with the negotiations said. After the split, Beats will retain

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.