Home Beats raises USD 60 mln for music service, meets with Apple
 

Keywords :   


Beats raises USD 60 mln for music service, meets with Apple

2013-03-06 11:06:00| Telecompaper Headlines

(Telecompaper) Headphones company Beats Electronics has raised USD 60 million from Len Blavatnik, James Packer and other investors to spin off a music subscription business which is using the working name "Daisy", reports the Financial Times. Beats recently purchased digital music service MOG and hired Topspin Media founder Ian Rogers as CEO. Its chief creative officer is Nine Inch Nails frontman Trent Reznor. Beats intends to launch its music subscription later this year, Blavatnik said. Beats has also held talks with Apple executives about a possible partnership with Daisy, Reuters reported. Apple CEO Tim Cook and the company's head of internet products, Eddy Cue, met Iovine in late February to find out more about Project Daisy, three people familiar with the matter told Reuters. Cook expressed interest in Daisy's rollout plans and business model, but did not discuss specifics of a deal. Although Beats would not comment on the meeting with Apple, a spokesman told the Financial Times that Beats co-founder Jimmy Iovine has had a long relationship with the group.

Tags: with service music usd

Category:Telecommunications

Latest from this category

All news

»
02.11Subtropical Storm Patty Update Statement
02.11Summary for Subtropical Storm Patty (AT2/AL172024)
02.11Atlantic Tropical Weather Outlook
02.11Eastern North Pacific Tropical Weather Outlook
02.11Weekly Recap: Nippon Paint, AkzoNobel, PPG Top This Weeks Stories
02.11Subtropical Storm Patty Graphics
02.11Subtropical Storm Patty Forecast Discussion Number 1
02.11Subtropical Storm Patty Wind Speed Probabilities Number 1
More »