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RumorTT: HTC have bought music subscription service MOG

RumorTT: HTC's Beats Audio unit rumored to have purchased music subscription service MOG
| Business, Financial & Legal News | Posted: Mar 20, 2012 5:29 am

Rumors are circling that HTC's Beats Audio unit have acquired music subscription service MOG, according to a rumor reported by Business Insider on Monday. One of Business Insider's writers, Matt Rosoff, based his report on a single source, but Gigaom have also heard rumblings from a source that term sheets went back and forth between the two companies just a few weeks ago.

 

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Who is MOG, and what do they do? MOG is a smaller music subscription service that has struggled against larger services like Spotify since launching in the US last year. There have been previous rumors that MOG were up for sale in the last few months, but MOG's CEO, David Hyman, denied news of its sale last month.

 

Om reported just a month ago that HTC were rumored to be in talks to launch its own music subscription service on its handsets, with Beats Audio founder Jimmy Iovine apparently a key player to these plans, which may have been motivated by the fact of the success wireless operator 'Cricket' has been having with its own Muve music subscription service. Cricket announced earlier in the year that Muve sports over 500,000 paying subscribers.

NEWS SOURCES:Gigaom.com

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