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  • Apple's Reportedly Wants Beats for Jimmy Iovine and Dr. Dre, Not Headphone Tech

    A recent report has been released saying that Apple’s rumored deal to buy Beats Electronics is happening. However, the deal is not happening for technology associated with headphones and streaming music, but for company cofounders Dr. Dre and Jimmy Iovine. TechCrunch cites a “well-placed” source who knows what’s going on with the latest talks in Apple buying Beats for $3.2 billion. The unnamed source states:

    They want Jimmy and they want Dre," the unnamed source said. "He's got fashion and culture completely locked up.
    The source also said that the deal almost fell apart multiple times, but will be happening, with 70% certainty that the parties involved will reach an agreement. Beats is both a software and hardware business despite only mediocre reviews from critics in regards to the headphones. But the headphones are some of the most popular models around worldwide and on the market right now. The company released a subscription based music streaming service titled Beats Music, back in January and has approximately 110,000 subscribers who are paying as of March.

    Apple is said to be in the final few steps in purchasing Beats for about $3.2 billion. There have been talks that official word on the deal will be pushed back to this week. Other rumors say that Iovine and Dr. Dre may be formally introduced as Apple executives when they take the stage at WWDC Jin June.

    Source: TechCrunch
    This article was originally published in forum thread: Apple's Reportedly Wants Beats for Jimmy Iovine and Dr. Dre, Not Headphone Tech started by Akshay Masand View original post