Beats Audio Wants to Ditch HTC
Aug 19, 2013, 7:12 AM by Eric M. Zeman
Beats Audio is seeking alternative sources of funding in order to buy out its partner HTC. Beats wants to drop HTC, says the Wall Street Journal, because it is interested in pursuing new product lines and the companies no longer see eye to eye on strategy. In 2011, HTC bought half of Beats Audio for $300 million. HTC saw it as a way to add appeal to its devices, while Beats saw it as an opportunity to expand its brand. A year later, however, Beats bought back half of HTC's investment for $150 million, leaving HTC with a 25% stake in the headphone maker. According to the Journal's sources, Beats hopes to find a new investor in the coming weeks. There's no word on whether or not such a change in ownership would affect the presence of Beats Audio software on HTC's devices.
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