Beats buyout of MOG worth $14 million, splits company not-so-neatly into two

More official details are emerging from Beats Electronics' acquisition of MOG, and they paint a considerably messier picture of the deal than we saw just a day ago. HTC (which has a big stake in Beats) has confirmed that the move into streaming music was worth $14 million -- not a whole lot considering that MOG had raised $33 million through its entire independent lifetime. The low price might come as the result of Beats being very surgical with its deal. The Jimmy Iovine- and Dr. Dre-founded outfit is taking control of the core audio service as a separately-managed company, while the ad and music blog components are mostly left untouched. MOG's loss of independence is coming on a very ignominious note as a result, but it could be good news for subscribers anxious about the service's future as well as HTC phone owners wondering just where Sense UI's Beats integration might go next.

Beats buyout of MOG worth $14 million, splits company not-so-neatly into two originally appeared on Engadget on Tue, 03 Jul 2012 16:39:00 EDT. Please see our terms for use of feeds.