Dr. Dre – The 3 Billion Dollar Man – Why Apple Is Taking Over Dre's "Beats"
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I remember when Dr. Dre was picking fights and avoiding negative press with his 4 other co-artists in NWA!
Kind of cool to see a guy who was famous for such song like “F**k The Police” be signing a contract a few short decades later for almost 3 BILLION dollars with Apple.
Apple to Acquire Beats Music & Beats Electronics
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. Thats 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. Ive always known in my heart that Beats belonged with Apple, said Jimmy Iovine. Read more…
Beats has quickly become part of pop culture in the US and 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 fiscal Q4.Formally established in 2008 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics (Beats) comprises the Beats by Dr. Dre family of premium consumer headphones, earphones, and speakers as well as patented Beats Audio software technology and streaming music subscription service Beats Music.
“We could build about anything that you could dream of. But that’s not the question,” Apple CEO Tim Cook said in an interview with Re/code. “The thing that Beats provides us is a headstart, and it provides us with incredible people, kindred spirits.” found at Quartz