Printed from http://www.electronista.com

Rumor: MOG bought for $12m, Beats just a proxy for HTC

updated 03:45 pm EDT, Fri March 23, 2012

Beats said buying MOG on HTC's behalf

Beats Audio's increasingly corroborated acquisition of MOG is now thought by sources to have not only been completed but ultimately a shell operation. The anonymous insiders near MOG told GigaOM that MOG had sold for just under $12 million. Although Beats made the purchase itself, it was HTC funding the deal, according to claims.

None of the involved parties had commented on the new developments.

Although one tip had Beats making the purchase partly for its own ends, the tip would show its part-owner HTC trying to revive its music efforts. It had briefly tried its HTC Listen service last year but gave up to refocus its efforts. MOG would both be a shortcut to reviving attempts as well as a sign that the focus would be more on streaming subscriptions than by-the-track sales.

A $12 million value would be particularly low and would show that MOG has been struggling next to competitors like Rdio, Rhapsody, and Spotify. The latter is rumored to have been aiming for a funding round putting it at a value of $3.5 billion to $4 billion based at least partly on its large share of digital music. At such a value, it could get hundreds of millions of dollars in funding and have little doubt as to its future.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. NTACvOS

    Fresh-Faced Recruit

    Joined: Jan 2012

    -2

    I object! Relevancy your honor!

    Picked up on macnn....completely irrelevant. Who/what is a MOG and why on earth do i care what a hack headphone maker and hack cellphone maker do with it? Can't tell from this article...which again appeared on macnn. The pop-over ads are extremely annoying...losing points rapidly.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Tablo DVR

With over-the-top content options growing past Hulu and Netflix, consumers may be finding it harder to justify paying a monthly fee fo ...

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Sponsor

toggle

Most Commented

 
toggle

Popular News