Guess who’s getting his money right?
After weeks of rumors, Apple has finally come clean with the announcement that it will acquire Beats headphones manufacturer Beats Electronics, as well as “the critically acclaimed subscription streaming music service Beats Music,” for a total of about $3 billion, making this Apple’s largest takeover deal ever. And no, the company didn’t forget about Dre: Both Beats cofounders, Jimmy Iovine and Dr. Dre, will join the tech giant as a result of the sale.
“I’ve always known in my heart that Beats belonged with Apple,” said Jimmy Iovine. “The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is something special.” (You’ll have to read between the lines to find the dollar signs.) READ FULL STORY