Beats by Dre Electronics Acquires MOG Music
Dr Dre's Beats Electronics company recently purchased the popular digital music provider, MOG music.
MOG will help to add more to Beats by providing the company with avenue to market music digitally, and even though the music provider has been purchased, it will still function as an independent entity and its advertising affiliate MOG Music Network will remain ancillary to the stipulations of the merger.
Beats by Dre Electronics recently broke away from its parent company, Monster Cable Products, and is looking to expand its reach in the world of high quality audio.
The company was founded by world renowned hip-hop producer Dr. Dre, and Interscope Records chairman, Jimmy Lovine.
"Beats By Dre was born out of a need to restore the emotional connection with music that was lost by the degradation of sound from the digital music revolution, starting with the weakest link in the experience at the time- headphones," said Luke Wood, president and COO of Beats Electronics.
By attaching Dr Dre's name, Beats has been able to build a brand that provides various devices such as laptops and smartphones with high quality sound.
"It was never about just headphones. We've since expanded the Beats mission to every other link in the music experience chain- speakers, mobile phones, personal computers and automobile sound systems," continued Wood. "With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience. With their talent and technology, the possibilities around future innovation are endless."
MOG's CEO David Hyman also expressed his excitement about the merger in a recent statement.
"We're thrilled to be joining forces with Beats, a company that's committed at the highest level to the experience surrounding music delivery; the fit feels perfectly natural. MOG subscribers can expect continued excellence from the best music service in the market, and we look forward to putting premium music experiences in the hands of millions of music lovers everywhere."