If the rumors are true and Apple Inc. purchases Beats Electronics LLC for $3.2 billion, it will be the biggest acquisition in the company's history.
A person with knowledge of the talks told the Los Angeles Times that an agreement has not been reached yet, but the companies might be able to make an announcement next week. Beats Electronics, known for selling premium headphones, was founded in 2008 by rapper Dr. Dre and Interscope Geffen A&M Chairman Jimmy Iovine. In January, the company launched Beats Music, a streaming music service that costs $10 a month. If the deal goes through, Apple would earn revenue from the headphones and other products and also enter the subscription music industry; in 2013, it launched iTunes Radio, a free streaming service supported by advertisements.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Eel-egal trade: the world’s most lucrative wildlife crime?Under the Radar Trafficking of juvenile ‘glass’ eels from Europe to Asia generates up to €3bn a year but the species is on the brink of extinction
-
Political cartoons for November 2Cartoons Sunday's political cartoons include the 22nd amendment, homeless camps, and more
-
The dazzling coral gardens of Raja AmpatThe Week Recommends Region of Indonesia is home to perhaps the planet’s most photogenic archipelago.
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
