DR. DRE SELLS 51% OF BEATS BY DRE FOR $300 MILLION ? IAA INDUSTRY ...

A few years ago, Dr. Dre and his business partner, Interscope head honcho Jimmy Iovine, launched the new Beats by Dr. Dre headphone line and it appears they?ve struck gold. Beats By Dr. Dre has entered into the mobile market through a new deal that has mobile giant HTC purchasing a 51% stake in the company for an estimated $300 million.

Jimmy Iovine said in a released statement, ?The marriage of these two companies is very, very good. We are very good for each other. With HTC?s innovation, technology and leadership, we feel we can really compete with anybody in this area.?
Beats will continue its existing strategic partnerships with Chrysler Group and Monster Cable Products.

Source: http://www.industryallaccess.com/access/?p=9890

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