Beats increases its share ownership to 75%, lets HTC keep majority stake, 'commercial exclusivity in mobile'
Although HTC and Beats are just shy of the one-year anniversary of their 300 million dollar partnership, it looks like the two are again growing apart. In a letter to shareholders today, it's been announced that the original owners of Beats plan to buy back 25 percent of its own shares, for a total ownership stake of 75 percent. That said, HTC will still retain nearly 25 percent of the remaining shares for itself, ensuring that it remains the largest external shareholder. As the release puts it, this new setup "provides Beats with more flexibility for global expansion while maintaining HTC's major stake and commercial exclusivity in mobile." All in all, it seems like this is more about shifting priorities given recent news like Beats' MOG acquisition, but it wouldn't make eventual breakup all that unsurprising given the partnership's mixed results. For now, you can hit up the press release for all the details.
Beats increases its share ownership to 75%, lets HTC keep majority stake, 'commercial exclusivity in mobile' originally appeared on Engadget on Sat,! 21 Jul 2012 17:15:00 EDT. Please see our terms for use of feeds.Permalink | | Email this | Comments