Dr Dre one of the richest without dropping a album in over 10 years

Dre Beats partners with HTC phones in $309 million deal

In a newly announced deal hip hop legend Dr Dre has linked up with smartphone maker HTC for $309 million with Beats Electronic. Beats, which is known for Dre Beats headphones endorsed by Diddy and Gaga, will acquire a hefty 51% of the company that Dre co-founded with Interscope Geffen A&M Records CEO Jimmy Iovine in 2006.

continue to operate Beats independently.

Speaking on the new move Iovine said, “The HTC and Beats by Dr. Dre partnership is an opportunity for two world-class companies to redefine the smartphone industry and define the future. For Beats by Dr. Dre, this represents a critical step in our continued mission to clean up the destruction of audio caused by the digital revolution and reengineer how sound is delivered, so the consumer feels the music the way that the artist intended.”

The partnership and sizeable investment means that HTC will incorporate Beats technology into their phones by the end of 2011 and Dr. Dre and Iovine will continue to operate Beats independently.

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