Audio equipment maker Monster LLC has sued Beats Electronics LLC, owned by Apple Inc (AAPL.O), over alleged "fraud and deceit" in the way that Beats acquired control of the rights to the popular "Beats by Dr. Dre" headphones.
Santa Monica, US-based music streaming service Beats Music is looking to raise between $60 million and $100 million in a new funding round in a bid to keep up with bigger rival Spotify, as the Beats Electronics spin-off failed to attract the targeted number of subscribers since its January launch.
Santa Monica, US-based company Beats Electronics is finally shutting down its MOG streaming service on April 15, and aims to convert the service's subscribers to Beats Music.
Beats Electronics on Friday said it had received an investment from the Carlyle Group worth USD500 million.
HTC Corp would be selling 24.84% of its stake in Beats Electronics for USD 265 million.