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Old 05-08-2014, 11:48 PM   #1
spareparts
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Default Apple buying Beats

http://m.pitchfork.com/news/55117-ap...or-32-billion/

3.2 billion bucks.

Quote:
According to a person close to the source, Apple is said to be in talks to purchase Beats Electronics for as much as $3.2 Billion, the New York Times reports. While negotiations have yet to be confirmed, the source claims that the two companies are currently talking and that a deal, if finalized, could be announced as early as next week-- though it is also possible that the deal could fall apart, the source claims.

If a deal between the two monoliths is confirmed, Apple's 3.2 Billion dollar buy-out would be the biggest acquisition in the company's history. Beats, meanwhile, has become one of the music industry's largest purveyors of high-end headphones since it was founded by Dr. Dre and Interscope co-founder Jimmy Iovine in 2008. (Forbes recently estimated the value of Beats at about $2 Billion.) Recently, the Times points out, Beats initiated a music streaming platform that competes directly with Apple's own iTunes streaming service and other streaming services like Spotify.
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