WMG Owner Blavatnik Leads New Investment In Iovine's Beats
March 6, 2013

Warner Music Group owner Len Blavatnik is heading up an investment group that is providing $60 million in financing to Beats Electronics LLC, the company founded by Jimmy Iovine and Dr. Dre that plans to launch a major new streaming service later this year. In a statement, Beats revealed that the investment includes funds from Texas billionaire Lee M. Bass and Australian investor James Packer, as well as Blavatnik.

"Beats has the vision, the brand, the management team and now the investor group to effectively change the expectations and experience of a music subscription service," Blavatnik said in a statement.

Meanwhile, sources tell Reuters that Apple CEO Tim Cook recently met with Iovine to discuss the Beats digital service, which had been code-named "Daisy." Apple Internet products head Eddy Cue was also a part of the meeting, in which Cook was curious about the rollout of Beats' service, as well as its business model.

As previously reported, Nine Inch Nails main man Trent Reznor is Chief Creative Officer of the Beats streaming project.




 
Breaking News
Nielsen Mid-Year Report: Overall U.S. Music Consumption Up 14%
July 2, 2015
Report: Facebook In Talks With Major Labels
In Brief - July 2, 2015
July 1, 2015
American General Media Names Picazzo Stevens PD At KAGM & KDLW/Albuquerque
Brandi Young Named SVP Of Sales For iHeartMedia Phoenix
Cumulus Media & Audioboom Announce Strategic Partnership
In Brief - July 1, 2015
June 30, 2015
iHeartRadio Takes Flight With Virgin America
Meredith Gardner & Josh Kahn Promoted To VPs of Digital Marketing & Product
In Brief - June 30, 2015
June 29, 2015
Alpha Media Louisville Names Otis Program Director/Afternoon Host At WDJX
Broadcasters Foundation Of America Names Dan Mason Co-Vice Chairman/Treasurer
JJ Kincaid Set To Wake Up Denver
BMG Acquires Verse Music Group
In Brief - June 29, 2015
June 26, 2015
eQB NOW
Sirius XM Agrees To Pay For Recordings Released Before 1972
Cumulus Names Troy Hanson PD At WKQX/Chicago
Brandon "Buster" Satterfield Joins Atlantic Records
June 25, 2015
Taylor Swift To Put 1989 On Apple Music
WLTW/New York To Celebrate 15 Years Of Broadway In Bryant Park
Report: Six Main Causes of Lost Quarter Hours
June 24, 2015
iHeartMedia Austin Names Zach Dillon Program Director For KHFI
Music News
Demi Lovato Is Feeling "Cool for the Summer"
Quick Hits: Rihanna, Taylor Swift / album sales, Prince
Rockers Breaking Benjamin Land Their First #1 Album
Quick Hits: Rihanna, Robin Thicke, Apple Music, Prince
Chris Brown, Beyoncé Top BET Award Winners
Quick Hits: Shinedown, Rob Thomas, Foo Fighters, AC/DC, Kings of Leon
Yes Bassist Chris Squire Passes Away
FMQB Photo Pass: Rush
Quick Hits: Demi Lovato, Jessie J, Billboard Hot 100 Music Festival
Beyonce & The Weeknd Headlining Made In America Festival
Quick Hits: Pharrell & Adele, Eminem / Southpaw soundtrack, Legacy of Hope concert
Quick Hits: Apple Music, Chris Brown
Quick Hits: Billboard 200, BET Awards, Smashing Pumpkins, Tyga, Riot Fest, The Neighbourhood, Marina and the Diamonds, Roger Waters
Disturbed Ends Four-Year Hiatus with Immortalized
Quick Hits: Janet Jackson, Nickelback, Tove Lo, Rod Stewart, Grateful Dead, James Horner, Hollywood Walk of Fame
FMQB NOW

Brian Mack, PD
WXXL/Orlando

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!