Quantcast

HTC halves its stake in Beats

A CHANGE OF HEART? A year after putting $300 million into Dr. Dre and Jimmy Iovine’s Beats Electronics, HTC says it has sold back half its stake for $150 million, but will still own 25% of the company. The Taiwanese smartphone maker will retain exclusive rights to use Beats audio technology with its phones. HTC says it expects to lose $4.9 million on its Beats investment, based on the headphone company’s current book value. A press release issued by HTC fails to explain the company’s motives for pulling back, spinning that “over the last year, HTC and Beats have made great progress in sound innovation, product integration and brand awareness with successes like the HTC One.” The two companies are supposed to launch a “global marketing campaign” later this year, according to All Things D’s Peter  Kafka. (7/25a)

A STAR-SPANGLED
HITS LIST
It's now or never. (7/1a)
BST HYDE PARK: BIGGER THAN EVER
It's the U.K. equivalent of July 4 fireworks. (7/1a)
SADDLE UP:
BEYONCÉ UNVEILS RENAISSANCE ART
She's not horsing around. (7/1a)
SONG REVENUE: DRAKE TAKES
THE CAKE
The rich get richer. (7/1a)
UMG ACQUIRES ALL THINGS ZAPPA
Who's gonna "Freak Out" over this acquisition? (7/1a)
SUPERSTAR RELEASES
Who's next?
MUSIC BIZ SPECIAL
It's Comic-Con for numbers geeks.
THE BIG CHEESE
Theories of evolution from 30,000 feet.
THE NEXT GIANT DEAL
A&R in overdrive.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)