Dr.Dre
Set To Become First Billionaire Rapper
Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the
headphone maker and music streaming distributor founded by hip-hop star Dr. Dre
and record producer Jimmy Iovine, according to a published report. Read more after the cut
Citing
people familiar with the negotiations, The Financial Times says Apple could
announce the deal as early as next week. In its report posted online late
Thursday, the newspaper warned the talks could still collapse if the two sides
can't agree on some final details.
Both Apple Inc. and Beats Electronics declined to comment to The Associated
Press. The potential acquisition would add Beats Electronics's popular line of
headphones and music streaming service to an Apple line-up that already
includes digital music players and the iTunes store, the world's top music
retailer.
If the deal is completed, it would be by far the largest purchase in Apple
Inc.'s 38-year history.
Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the headphone maker and music streaming distributor founded by hip-hop star Dr. Dre and record producer Jimmy Iovine, according to a published report. Read more after the cut
Both Apple Inc. and Beats Electronics declined to comment to The Associated Press. The potential acquisition would add Beats Electronics's popular line of headphones and music streaming service to an Apple line-up that already includes digital music players and the iTunes store, the world's top music retailer.
If the deal is completed, it would be by far the largest purchase in Apple Inc.'s 38-year history.
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