Digital

Beats bosses plotting to buy out HTC, says WSJ

By | Published on Monday 19 August 2013

Beats

According to the Wall Street Journal, the Dr Dre and Jimmy Iovine-led Beats Electronics company is considering buying out its co-owner HTC, and at the same time is looking for a new investor to fund further expansion.

Phone maker HTC took just over a 50% stake in the overpriced headphone peddler in 2011, but sold half of that back to the firm last summer. Since then the Beats company has been prepping to enter the competitive streaming music market in addition to the continued expansion of its hardware business.

It’s thought the moves here are being driven by Beats management, and it’s not clear if HTC is all that keen to sell their shares. Though presumably everyone has their price. Whether Team Beats can find a new backer willing to pay it remains to be seen.



READ MORE ABOUT: |

SIGN UP GO PREMIUM CMU NEWS CMU DAILY CMU DIGEST CMU TRENDS SETLIST