Warner Music owner, Bass, Packer finance Beats' music service

(Reuters) - An investor group headed by Warner Music owner Len Blavatnik is providing $60 million in financing to Beats Electronics LLC, the company co-founded by music mogul Jimmy Iovine and legendary record producer Dr. Dre that has announced plans to launch a music subscription service later this year. The investment includes money from Fort Worth, Texas, billionaire Lee M. Bass and Australian investor James Packer, Beats said in a statement. ...

via Music News Headlines - Yahoo! News http://news.yahoo.com/warner-music-owner-bass-packer-finance-beats-music-072258347--finance.html