Apple to acquire Beats Music & Beats Electronics
TweetFollow Us on Twitter

Apple to acquire Beats Music & Beats Electronics


Apple has announced it has agreed to acquire the subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software.

As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time.

"Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” says Apple CEO Tim Cook. "That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world."

"I’ve always known in my heart that Beats belonged with Apple," says Jimmy Iovine. "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."

"Music is such an important part of Apple’s DNA and always will be," adds Eddy Cue, Apple’s senior vice president of Internet Software and Services. "The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years."

With the acquisition the Beats product lineup will be offered in many more countries through the Apple Online Store, Apple’s retail stores and select Apple Authorized Resellers. Subject to regulatory approvals, Apple expects the transaction to close in the fiscal fourth quarter.

 
AAPL
$103.30
Apple Inc.
+0.80
GOOG
$577.33
Google Inc.
+5.73
MSFT
$45.09
Microsoft Corpora
-0.34
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Modern Combat 5 Gets a Major Multiplayer...
Modern Combat 5 Gets a Major Multiplayer Update Posted by Jessica Fisher on September 2nd, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Alien Creeps TD Review
Alien Creeps TD Review By Jennifer Allen on September 2nd, 2014 Our Rating: :: EXPENSIVE DEFENSESUniversal App - Designed for iPhone and iPad Alien Creeps TD would be a fun if unremarkable Tower Defense game, but its heavy focus on in-app purchases and balancing issues might put you off.   | Read more »
The Journey Down: Chapter Two Review
The Journey Down: Chapter Two Review By Jennifer Allen on September 2nd, 2014 Our Rating: :: DARK YET ENTICINGUniversal App - Designed for iPhone and iPad It’s a little dark, in every sense of the word, but The Journey Down: Chapter Two is a solidly entertaining adventure game.   | Read more »
Function Space, a Social Network App for...
Function Space, a Social Network App for Science, Launches on iOS Posted by Ellis Spice on September 2nd, 2014 [ permalink ] | Read more »
Stupidfast – How Taylor Martinez Switche...
How do you make an Endless Running game more than just another Endless Running game? By adding real life prizes to it, of course! That’s the thinking behind StupidFast: a game designed for football enthusiasts, and the brainchild of former college football star and current NFL free agent, Taylor Martinez. It all came about due to his career path... | Read more »
Little Raiders: Robin’s Revenge Review
Little Raiders: Robin’s Revenge Review By Jennifer Allen on September 2nd, 2014 Our Rating: :: CASUAL RAIDINGUniversal App - Designed for iPhone and iPad Combining simple combat with village building is a potent combination for this charming tale.   | Read more »
Treasure Tombs: Ra Deal Coming from Bulk...
Treasure Tombs: Ra Deal Coming from Bulkypix and Dark Tonic This Fall Posted by Jessica Fisher on September 2nd, 2014 [ permalink ] Dark Tonic and | Read more »
Pirate Bash Review
Pirate Bash Review By Nadia Oxford on September 2nd, 2014 Our Rating: :: BAD PIRATES, GOOD TIMESUniversal App - Designed for iPhone and iPad Pirate Bash’s turn-based battles add an intriguing twist to a typical physics game.   | Read more »
Tiny Tower Vegas Review
Tiny Tower Vegas Review By Jennifer Allen on September 2nd, 2014 Our Rating: :: STEADY DEVELOPMENTUniversal App - Designed for iPhone and iPad Build a huge tower again but Vegas-style in Tiny Tower Vegas.   | Read more »
The Manhattan Project Review
The Manhattan Project Review By Andrew Fisher on September 2nd, 2014 Our Rating: :: ROCKET SCIENCEUniversal App - Designed for iPhone and iPad The Manhattan Project offers a great Euro-style gameplay experience, but it is totally unwelcoming to new players   | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.