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Beats-MOG done

BEATS-MOG DONE DEAL: Jimmy Iovine and Dr. Dre’s Beats Electronics has just confirmed that much-rumored acquisition of MOG for an undisclosed amount. No immediate changes to the service are planned, while MOG employees will remain with the company and will continue to work out of company HQ in Berkeley. Founder David Hyman remain CEO, reporting directly to Beats President/COO Luke Wood. “Beats by Dre was born out of a need to restore the emotional connection with music that was lost by the degradation of sound from the digital music revolution, starting with the weakest link in the experience at the time—headphones,” said Wood. “But it was never about just headphones. We’ve since expanded the Beats mission to every other link in the music experience chain—speakers, mobile phones, personal computers and automobile sound systems. With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience. With their talent and technology, the possibilities around future innovation are endless.” Commented Hyman: “We're thrilled to be joining forces with Beats, a company that’s committed at the highest level to the experience surrounding music delivery; the fit feels perfectly natural. MOG subscribers can expect continued excellence from the best music service in the market, and we look forward to putting premium music experiences in the hands of millions of music lovers everywhere.” (7/2a)

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