Reports: Apple Close To Buying Beats Electronics
May 8, 2014 at 4:14 PM (PT)
Multiple sources are reporting that APPLE is close to acquiring BEATS ELECTRONICS for $3.2 billion. Sources told CNBC that the deal could be announced as early as next week, but some unresolved details remain and talks could still fall apart.
BEATS ELECTRONICS, which was initially founded by JIMMY IOVINE and DR. DRE as a high-end headphone maker, more recently launched a music streaming service. BLOOMBERG.COM reports hat the deal would definitively confirm APPLE's intention to offer its own music-subscription arm. BEATS' service, which giving users unlimited access to its catalog as well as playlists made by musicians and DJs, costs $9.99 a month.