Tag - MOG
The founder of MOG, the music subscription service that was to become Beats Music, has sued Beats Electronics over a loss of earnings. David Hyman claims he was fired from the company before he was able to earn shares in the company, with the situation exacerbated by the anticipated acquisition of Beats by Apple for an estimated $3.2 billion.
Beats recently-announced acquisition of music streaming service MOG cost the music peripheral company $14 million. The deal was announced yesterday, and it was apparently negotiated in part by phone maker HTC, which owns a portion of Beats. The deal will see parts of MOG coming under direct control of Beats, while other aspects of the company will remain relatively autonomous.
Beats Electronics has announced that it has completed its long rumored acquisition of MOG music, reports USA Today. Terms of the deal have not been made public, although negotiations were known to have started as far back as March. Beats, which is part owned by HTC and forms an integral part of their smartphone lineup, plans on making the MOG music experience part of its end-to-end music experience.
The long-rumored acquisition of digital music service MOG by Beats may have been finalized and could be announced in the near future. A source familiar with the workings of the deal has told CNet that the deal has indeed gone through. Despite the news, particulars in the acquisition have yet to be revealed.
In its first endeavor away from American shores, subscription music service MOG announced an exclusive partnership with Telstra, one of the largest telecom companies in Australia. The deal will give bring access to MOG's music catalog to Telstra's more than 13.3 million mobile customers.
HTC in an interview Friday said it won't pack in Beats Audio's earbuds or other headphones with at least some of its smartphones from now on. Product executive Martin Fichter briefed CNET that, while the on-device Beats Audio processing would stay, ordinary headphones at most would come in the box with models like the Evo 4G LTE and One series. Customers weren't buying for the headphones and thus didn't justify the extra cost.
Beats Audio co-creator Jimmy Iovine gave some of the first signs of a possible buyout of MOG in an interview on Wednesday. Although stopping short of confirming the deal directly, he mentioned to Bloomberg that Beats was "looking at this area." His company wouldn't try to encroach on iTunes' pay-per-track formula, which was largely secure, but saw a deficit in the subscription field.
On the heels of its Windows app, MOG has quietly posted a native iPad app (App Store). Although marked as 2.0.2, the previously unavailable app is a significant rethink with a more visual interface with pop-overs that expand options for playing, sharing, and queuing. Going into an album, artist or other broader category provides a more detailed exploration of the content while keeping always-available playback controls.
Mog has posted a new app for Windows desktop owners. With it, subscribers can listen to music from the music service's catalog of over 14 million songs on their windows PC as well as their mobile device or Mac. The app features a native audio decoder for improved audio playback quality.
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.