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Apple will officially buy Beats for $3 billion

Apple will officially buy Beats for $3 billion
Beats Music

Earlier this month, I told you all about how Apple is buying Beats Music, the brainchild of music legends Dr. Dre and Jimmy Iovine.

It's Apple's biggest acquisition ever; however the latest reports say that Beats was bought for $3 billion, not the originally estimated $3.2 billion reported earlier.

The deal is for $2.6 billion up front and another $400 million that will vest over time, Apple said in a statement.

Only time will tell what Apple has in store with Beats Music, but there's been lots of speculation about how Apple needs to revamp its music services to compete with the likes of Spotify. Stay tuned to my Happening Now page for all the latest news as it breaks.

 

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