RUMOR MILL
For Jimmy, VEVO could represent an essential piece of the puzzle as Beats Music builds a content infrastructure for the next generation of Apple devices, including the expansion of Apple TV (into which VEVO is already integrated).
Thursday, July 10, 2014
SALES TALK RE-VEVO-FIED
Word Has It Video Giant Looms Large in Jimmy Iovine's Apple-Beats Plans
Word has it that with the Apple deal set to finalize in mere weeks, Beats' Jimmy Iovine is eager to purchase VEVO.
The music-video outlet, co-owned by UMG and Sony along with Dubai Partners, has been on the block for some time, with Guggenheim among its principal suitors. But VEVO's approximately $800m price tag proved too steep for them.
For Jimmy, VEVO could represent an essential piece of the puzzle as Beats Music builds a content infrastructure for the next generation of Apple devices, including the expansion of Apple TV (into which VEVO is already integrated).
Given the equity the majors variously have in Beats and/or Beats Music, transitioning VEVO to Beats could be more about trading stock than writing checks (apart from buying out Dubai).
