Since 1986 - Covering the Fastest Computers in the World and the People Who Run Them

Language Flags

HPC Market Watch

By: Gigaom
March 19, 2012 at 16:39 PM EDT
HTC rumored to have bought MOG
Mobile handset maker HTC has bought music subscription service MOG, according to a rumor reported by Business Insider. We haven't been able to verify the rumor, but have also heard that term sheets have been going back and forth between the two companies.

HTC’s Beats Audio unit may have bought music subscription service MOG, according to a rumor reported by Business Insider Monday. Insider writer Matt Rosoff based his report on a single source, but we have since also heard from a source that term sheets went back and forth between the two companies a few weeks ago.

MOG is one of the smaller music subscription services that has struggled to compete with the attention that Spotify has been getting since the launch of its U.S. service last year. There have been persistent rumors that MOG was up for sale in recent months, but the company’s CEO David Hyman denied any such plans in February. MOG didn’t respond in time with a comment for this article, but we will update once we hear back from them.

Om reported a month ago that HTC was rumored to be in talks to launch its own music subscription service on its handsets. Beats Audio founder Jimmy Iovine was apparently key to these plans, which may have been motivated in part by the success that wireless operator Cricket has been having with its own Muve music subscription service. Cricket announced earlier this year that Muve now has more than 500,000 paying subscribers.

Related research and analysis from GigaOM Pro:
Subscriber content. Sign up for a free trial.


Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here