First billionaire in hip-hop' Dre boasts of Apple-Beats deal on Facebook Appearing to confirm rumors of a $3.2 billion Apple buyout, Beats co-founder says Forbes' rich list has changed "in a big way".
Apple said to be in talks to buy Beats Electronics for $3.2B Tentative deal between iPhone maker and Beats is reportedly in the works and could be one of Apple's biggest buys yet.
Apple is reportedly in talks to acquire Beats Electronics, the high-end-headphone maker co-founded by hip-hop artist Dr. Dre, in a deal worth $3.2 billion, according to the Financial Times.
The deal could be announced as early as next week, the report says, but has yet to be finalized and could still fail to materialize pending discussions between the two companies.
Beyond its line of bass-boosting ear pieces, Beats has also broken into the competitive market for subscription streaming-services, with a mobile offering that, unlike Apple's iTunes and iTunes Radio, offers ad-free, on-demand music listening for about $10 per month. If the deal goes through, Apple will acquire the subscription business alongside Beats' hardware division, with the Beats management team reporting to Apple CEO Tim Cook, the FT adds.