Apple Confirms Beats Purchase for $3 Billion
Turns out the celebration video of Dre. Dre and Tyrese Gibson bragging about his would-be sale of Beats to Apple didn’t change Apple’s mind about the deal. It has been confirmed that Apple is buying the headphone and streaming music service for $3 billion, $200 million less than the originally reported amount. It was reported that the Apple family was outraged by the video however, we’re not sure yet if that is the reason for the $200 million reduction of the deal. The deal will officially close by September 28th during the fourth quarter of Apple’s fiscal year.
In addition to the purchase of the headphones and streaming service, Jimmy Iovine and Dr. Dre, the company’s co-founders, will join Apple in unspecified roles as part of the deal.
View the Celebratory Video: