Apple confirms $3 billion Beats Electronics purchase
In case the video of Dr Dre’s celebration wasn’t proof enough, Apple’s acquisition of Beats Electronics is officially confirmed with a purchase price of $3 billion (just beneath the speculated 3.2 billion), their largest acquisition to date.
As The New York Times reports, the deal is expected for approval later on in 2014, at which time Beats’ co-founders Dr. Dre and Jimmy Iovine will begin working under Apple’s Internet Services exec Eddy Cue. As a brand, Beats will continue to exist separate from Apple, which will continue both the iTunes and Beats music streaming services.
Iovine confirmed the deal via a post on Beats’ blog, stating “I’ve always known in my heart that Beats belonged with Apple. 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.”
- Producer zhone confirms Charli XCX, Dua Lipa, and Troye Sivan collaboration
- Cass McCombs unveils surprise release, Seed Cake On Leap Year
- MUNA call out bullies and cyberstalkers: "this shit is truly scary for us"
- Dawn Richard and Spencer Zahn unveil "Diets"
- Half Waif presents new single, "The Museum"
- Amanda Bergman returns with new single, "All Over Town"
- Is Dua Lipa teasing a collaboration with Troye Sivan and Charli XCX?
Get the Best Fit take on the week in music direct to your inbox every Friday
Gia Ford
Transparent Things
Fat Dog
Woof
Hinds
Viva Hinds
