Apple Near Buying Beats Electronics for $3.2 Billion
Updated May 9th 2014 8:30AM
Updated May 9th 2014 8:30AM
SAN FRANCISCO -- Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the headphone maker and music streaming distributor founded by hip-hop star Dr. Dre and record producer Jimmy Iovine, according to a published report.
Citing people familiar with the negotiations, The Financial Times says Apple (AAPL) could announce the deal as early as next week. In its report posted online late Thursday, the newspaper warned the talks could still collapse if the two sides can't agree on some final details.
Both Apple and Beats Electronics declined to comment to The Associated Press.
The potential acquisition would add Beats Electronics' popular line of headphones and music streaming service to an Apple line-up that already includes digital music players and the iTunes store, the world's top music retailer.
If the deal is completed, it would be by far the largest purchase in Apple's 38-year history.
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