HTC's Beats by Dr. Dre in talks to buy MOG

[March 21, 2012]  LOS ANGELES (AP) -- A person familiar with the matter says upscale headphone maker Beats by Dr. Dre is in talks to buy subscription music service MOG.

The person said Tuesday that Beats' owner, Taiwanese cellphone maker HTC, is looking to create a music offering that combines its mobile devices, Beats' headphones and MOG's all-you-can-listen streaming plan.

The person was not authorized to speak publicly and requested anonymity.

News of the possible acquisition was earlier reported by Business Insider.

MOG Chief Executive David Hyman declined to comment. HTC dismissed earlier reports as rumor and speculation.

Last August, HTC announced it was paying $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.

[Associated Press; By RYAN NAKASHIMA]

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