Upscale headphone maker Beats by Dr Dre is in talks to buy subscription music service MOG, a person familiar with the matter said on Tuesday.
Beats’ owner, Taiwanese cellphone manufacturer HTC (宏達電), is looking to create a music offering that combines its mobile devices, Beats’ headphones and MOG’s all-you-can-listen streaming plan, said the person, who was not authorized to speak publicly and requested anonymity.
News of the possible acquisition was earlier reported by news Web site Business Insider.
MOG chief executive officer David Hyman declined to comment.
HTC dismissed earlier reports as rumor and speculation.
In August last year, HTC announced it was paying US$300 million for a 51 percent stake in Beats Electronics LLC, a company headed by rapper and producer Dr Dre and recording executive Jimmy Iovine.
The maker of handsets that work on Google Inc’s Android platform has been struggling with intense competition from Samsung Electronics Co and iPhone maker Apple Inc. HTC said its profit fell 26 percent in the final quarter of last year.
MOG has also struggled to gain subscribers in the face of established music subscription service Rhapsody and Sweden’s Spotify. MOG’s paying subscribers are estimated to be in the tens of thousands compared with more than 1 million for Rhapsody in the US and 3 million for Spotify worldwide.
Each service offers unlimited music streaming on portable devices for US$10 per month and a range of free trial offers to get customers hooked.
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