The Source | Finally, Apple Has Acquired Beats For 3 Billion Dollars

Itโ€™s official.

The business deal that sent both the business and hip-hop world into a frantic frenzy has officially gone through, despite reports surfacing over the weekend of several snags, including a citation of premature announcemenet, that put the deal in jeopardy. Today,ย Dr. Dreย &ย Jimmy Iovineย both became Apple executives, as the cellphone and software company officially acquires Beat Music for a whopping 3 billion dollars (2.6 billion in cash, 400 million in equities), and they pose alongside Apple CEOย Tim Cook,ย and another Apple executive in charge of internet services,ย Eddy Cue, in an era-defining photograph.

beats apple

John Janick, who has already practically been running Interscopeโ€™s day-to-day operations (according to a Billboard report), is Jimmy Iovineโ€™s hand-picked successor at Interscope, and once Iovine has made his full transition from label exec to Apple power-player, Janick will be handed the reigns of one of musicโ€™s most powerful and successful labels, especially as of late.

The official Beats By Dre Twitter account confirmed reports of the deal being official with a simple, clever tweet.

Finally  Apple Has Acquired Beats For 3 Billion Dollars   TheSource

ย industry sig

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