MOG founder and former Beats Music CEO suing Beats for $20 million ahead of expected Apple buy

Dr. Dre, Jimmy Iovine And Luke Wood Launch The Beats By Dr. Dre Pill At The Beats Store In Soho, NY

Luke Wood, Jimmy Iovine, & Dr. Dre

Just as Apple is expected to close on a deal with Beats Electronics as soon as next week, a new report from The Wrap shares that David Hyman, the founder of music service MOG which Beats purchased, is suing the headphones and streaming music company for at least $20 million plus interest.

The suit claims that, under an incentive plan adopted during Hyman’s tenure, he would be entitled to compensation including 2.5 percent of the company’s “currently outstanding equity interests,” with 1 percent due on the first anniversary of Hyman’s date of employment, and subsequent installments due in subsequent months. The suit also claims that he was promised a grant of 25 percent of the company’s outstanding equity interests following adoption of the incentive plan if the company achieved a fair market value of $500 million or more.

Hyman served as founder and CEO of the MOG music service for seven years until Beats Electronics purchased it for $14 million in May 2012. Hyman stayed on to head the music service that is now Beats Music where he served as CEO for just seven months.

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Seagate expands iPhone/iPad-connected Wireless Plus lineup to include 500GB & 2TB mobile external drives

Seagate announced today that it is expanding its Wireless Plus external hard drives to include both a larger storage capacity and a more affordable offering as well. Joining the 1TB Seagate Wireless Plus mobile external drive announced last year is a new 500GB drive creating a lower price point and a new 2TB drive doubling the storage capacity in the lineup… Read more

Samsung attempts to preempt Apple’s Healthbook launch with a health-focused event of its own in late May

Image via Engadget

Image via Engadget

Samsung has just announced a health-focused event that will take place on May 28th, just days before Apple is set to unveil its next-generation mobile and desktop operating systems at WWDC, including the expected announcement of the company’s Healthbook software.

We’re going to go out on a limb here and assume that Samsung really wants to take credit for kicking off the “health” craze and capture as much attention as possible as the “first” to the game, but will likely end up sorely disappointed when Apple comes along and dominates the news cycle the following week. Again.

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Former iPhone camera engineers create 360-degree video camera

CENTR, a startup created by a group of former iPhone camera engineers, has developed a video camera that creates 360-degree views, allowing viewers to pan around the image during playback.

CENTR allows you to capture your experiences and share them in a whole new way. Capture 360° video in real-time on a camera that fits in the palm of your hand. With decades of experience working on cameras at Apple, the CENTR team knows what it takes to bring beautiful design and groundbreaking technology together in one product …

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Hulu announces free viewing coming to mobile this summer

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At Hulu’s Upfront event in New York today, the streaming media company announced some interesting news for cable cutters and entertainment indulgers. Beginning this summer, viewers without paid Hulu Plus accounts will be able to view full episodes of TV shows via the Hulu mobile apps at no cost. The content will still be ad-supported, of course, as even paid members are exposed to advertising, but content will include full TV episodes. Currently, only Hulu members with a paid subscription can access content on mobile devices like the iPhone and iPad and free viewing is restricted to the web. Additionally, Hulu says the company will release “the next generation” of its Hulu Plus app for iPhone around the same time this summer. Read more

Nike seeking to expand software partnership with Apple following shutdown of wearable tech division

Nike’s Mark Parker reveals some advice given to him by Steve Jobs (2010)

Earlier this week, it was revealed that Nike was winding down its wearable technology efforts with the intention of focusing on fitness software, such as thhe Nike+ Running app seen above. Today Nike CEO Mark Parker told CNBC (clip below) that the company is looking to expand its partnerships with other companies, including Apple.

Parker stopped short of saying that the two were collaborating on a future fitness endeavour (such as the iWatch), but said that Nike is interested in working with many companies looking to integrate its NikeFuel software into their hardware. Parker said that his goal is to reach a total NikeFuel user base of 100 million, over three times the current number of 30 million.

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