Apple Confirms It Will Buy Beats for $3 Billion
 

Apple Confirms It Will Buy Beats for $3 Billion
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Apple confirmed on Wednesday that it will buy Beats Electronics and Beats Music for $3 billion.

Apple is buying the two companies for a purchase price of about $2.6 billion and approximately $400 million that will vest over time. Beats cofounders Jimmy Iovine and Dr. Dre will join Apple. Rumors of the acquisition surfaced earlier this month.

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

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