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.”
- SXSW London offer 500+ passes to local charities and community groups in East London
- Oklou announces forthcoming debut album, choke enough
- Nala Sinephro, Arooj Aftab, Anna von Hausswolff are among the first artists for Rewire 2025
- Tiny Habits team up with Lizzy McAlpine for new single, "For Sale Sign"
- Kate Nash details OnlyFans campaign, Butts For Tour Buses
- Omar Apollo unveils new single, "Te Maldigo"
- Saya Gray presents new single, "H.W.B"
Get the Best Fit take on the week in music direct to your inbox every Friday