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Beats reportedly talking to Apple about Daisy music service; picks up $60M in new funding

Wednesday, March 6, 2013 - 12:30pm

Apple is reportedly in talks with Beats Electronics on a possible music streaming service partnership.

Sources say Apple CEO Tim Cook and Internet products chief Eddy Cue met with Beats CEO Jimmy Iovine to learn more about the Beats' upcoming "Daisy" streaming music service.

Relatedly, Beats announced yesterday $60 million in new funding for the project from an investment group that includes Warner Music owner Len Blavatnik, to bankroll the service's planned late-2013 launch.

It was early last September when word first leaked that Apple was planning to launch its own customizable streaming music service (RAIN coverage here) -- but on that was more of an Internet radio/Pandora competitor.

Beats is the Dr. Dre/Iovine company that makes the popular Beats headphones, and owns music subscription service MOG (which is being rebuilt as "Daisy"). At CES in January, Iovine told AllThingsDigital's Peter Kafka he'd long been trying to push the late Apple founder Steve Jobs towards creating a streaming music subscription service (see RAIN coverage here). Also at CES, Iovine and his company named former Yahoo! Music and Topspin CEO Ian Rogers (RAIN coverage here) CEO of Daisy. More on Daisy in RAIN here.

Read more about Apple and Beats from Hypebot.com here and Reuters here.

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