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Beats plans to buy out HTC, talks to new investor - report

Monday 19 August 2013 | 09:48 CET | News
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Mobile headphones company Beats Electronics is planning to buy out Taiwanese phonemaker HTC's 25 percent stake and attract a new investor able to provide fresh funds for growth, people familiar with the matter told the Wall Street Journal. The group, which is around 75 percent owned by hip-hop producer and artist Andre Young, known as Dr Dre, plans to expand into speakers, car audio systems, consumer electronics and online music streaming. Talks are reported to have begun with a potential investor to provide debt financing and possibly buy a minority stake within weeks. HTC would not comment

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Categories: Internet / Mobile & Wireless
Companies: Beats / HTC
Countries: World
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