It’s official! Apple finally finalized their deal to purchase Beats, which including Beats Audio hardware and Beats Music (their streaming music service). The final price paid was a cool $3 billion with $2.6 billion in cash and $400 billion in stocks. In the deal Dr. Dre and Iovine are now siad to be joining the new management team for Apple/Beats
View the full statement below.
Move over Jay Z looks like Dr. Dre might become the first hip hip billionaire if this Apple deal goes down!
Apple is in discussions to buy Beats Electronics for 3.2 billion dollars, that the company behind Beats by Dre.
According to the New York Times
The deal would also include the new Beats Music streaming service, which was introduced in January as a competitor to Spotify and Pandora, and could signal an effort by Apple to transform its approach to music more than a decade after it opened the iTunes download store.
A deal has not been consummated, and the negotiations could still fall apart, according to these people, who declined to be identified speaking about it publicly. But if it is completed, the sale could be announced as early as next week, the people said. Apple and Beats declined to comment.
Considering Apple is worth about 156 billion already that 3.2 billion shouldn’t really hurt Apple’s wallet at all. Lets hope that make an agreement soon.
Apple is also being pressured to come out with new products by investors as well. Things like a smartwatch and the rumored Internet-connected television set have yet to be released. Sounds like this might be a good look for both companies!
It's The Plug 