Dr. Dre and Jimmy Iovine want to turn their Beats Audio business into the next Apple, and a new report suggests they could be taking a significant step on the way to getting there. According to Business Insider and Giga Om, Beats is buying the music streaming and subscription service MOG— a competitor to Spotify and Rdio.
The deal hasn't yet been announced, and sourcing is still scarce, but rumors that Beats, which is majority owned by HTC, has been after a music service of its own have persisted for over a month.
With MOG, HTC and Beats could add an advanced music service to their current strategy of targeting music lovers by packaging their mobile devices with premium quality Beats by Dr. Dre headphones.
MOG in its current form works as either a Web player or desktop app and has a library of 14 million songs. A free version is ad supported, or you can pay either $4.99 or $9.99 per month for ad-free versions with advanced features. Previously, MOG partnered with BMW and Mini Cooper to be featured as a dashboard music player.
We'll have more on a potential MOG/Beats/HTC union as the story develops.