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...on a $3.2 billion payday.
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That's quite shocking ineptitude. It's not like they missed the clause, they just made a lot of decisions based on some very faulty assumptions. Consequently they made asses of themselves!
Tbh, I am surprised they are making this public now. If it were me I would have kept quiet - it paints them in a pretty foolish light. Especially for a company that isn't exactly off-the-charts in customer appreciation!
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If what was said below is true, Monster wouldn't have a leg to stand on.
Brian
So much music, so little time!
that this is really about Monster's shortsighted marketing vision/assumption. This is a company who DEFINED marketing in the audio world.
"It's all fun and games until someone doesn't pick up on the sarcasm"
Edits: 09/03/14
I think it was that other well-known company that 'defined' audio marketing.
Very nice! cdb.
but Bose, on occasion, actually sounds good.
"It's all fun and games until someone doesn't pick up on the sarcasm"
Oh this is wonderful news! Now they can refocus on making the high value cables and surge protection units we all know and love ;-) Hahaha glad they got a taste of their own medicine.
I am soooo glad they got screwed! Fuck Noel Lee and his son...
-RW-
Yeah right, what would it have been then?
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Noel Lee was, is and always will be about the money - he doesn't give a shit about anything else
Zip cord is 100 percent right!
Well they would say that, wouldn't they?
After all they just lost 60% of their revenue stream.
Probably they underestimated Iovine and Dre who, unlike many other financially successful rappers, did not read Business Studies at University and neither did Iovine.
AFAIK Kevin Lee has a BA in Business and probably thought he understood contracts better than his adversaries.
NL is wealthy already. If the rumors are true about his business dealings, then it is karma in full effect.
It's not Noel's business dealings, it's his son Kevin's fault. Noel might well have caught that. If it hadn't been his son who screwed up royally, he would have been fired. One would assume that Kevin is on thin ice with his father from this.
Yup, Noel is very wealthy and has the young trophy wife, so yeah, karma came around at last. Noel's lame attempt to put a positive spin on the outcome is laughable.
Brian
So much music, so little time!
endorse component audio and… ZOOM! Renaissance is here!
nt
Dman
Analog Junkie
...you'd think they'd have had a more favorable contract with Beats.
"Yet the five-year deal, with renewal options, also included a provision that if Beats ever sold a majority stake, Monster would have to turn over all of its technology."
I guess their lawyers were too busy with Monster trademark lawsuits to notice that provision. You might license the technology, but you never give it away.
Boomerang karma with no tears from me.
If you read some of the articles online, you'll see that Kevin negotiated the contract without the aid of the lawyer. The kid screwed up bad.
Nothing inside that could be considered worth-while "technology", so they probably figured that there would be no loss to give away that info.
But what goes around comes around. With all those years suing small mom & pop shops using the name "Monster", I am glad to see that they get to taste the sour apple for once.
FrankC
N/T
"Once this was all Black Plasma and Imagination" - Michael McClure
Monster Thugs. Blech.
Noel lee is a scumbag!
NT
Monster's bad Karma (which Noel Lee earned from repeatedly suing 'mom & pop' businesses for using the word "monster" in any way, as if he owned it) came back to bite him. Perhaps there is some poetic justice in this world!
Edits: 09/02/14
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