Unless you’ve been living under a rock for the past few days, you may have not heard about the growing excitement over the report that Apple is buying Beats Electronics for $3.2 billion. Despite the fact that numerous articles have already been published regarding this acquisition, neither company has gone public about the deal. Originally reported by The Financial Times, the buyout was expected to be announced sometime within the week. Perhaps, both companies are waiting until the acquisition has formally completed before releasing any information to the public.
Despite the lack of information from either parties, what we do know at this point is that Dre will become extremely rich once the acquisition takes place. Billboard, however, believes that Apple could potentially introduce both Dr. Dre and Jimmy Iovine as among the executives of the company. A source has already revealed plans that Apple will be giving Iovine control of its iTunes music field. With his extensive background, he would be quite the man for all things music-related. Additionally, he may just be handling Apple’s relationships with music producers and record labels.
With reports of the decline of the paid music download industry, Iovine’s entry to the company may change all this. But until Apple directly confirms its acquisition over Beats, this may just be another rumor.
Source: TheVerge | Billboard
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