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Report: Apple’s Deal For Beats Electronics Is Still Going To Happen

Report: Apple’s Deal For Beats Electronics Is Still Going To Happen

May 22, 2014
Even though it has been exactly two weeks since news of Apple’s probable acquisition of Beats Electronics first broke, there’s still been no official word on the deal. But according to TechCrunch, even though the deal was at times close to falling apart, it’s now a “70% certainty” that it will go through. And the source says the purchase is more about the Beats’ co-founders, Dr. Dre and Jimmy Iovine, than the actual company itself:
“They want Jimmy and they want Dre,” said the source. “He’s got fashion and culture completely locked up.”
Earlier this week, Steve Jobs biographer Walter Isaacson said he believed the deal was about nabbing Iovine to run Apple’s content business. Since we’re heading into a long holiday weekend here in the United States, the earliest we’ll probably hear any official news on the deal is Tuesday. It was first reported that Apple will spend $3.2 billion for Beats. It’ll be interesting to see whether any deal is announced before WWDC, which starts on Monday, June 2. Both Dre and Iovine were once expected to be introduced at the keynote address. For other news today, see: Walmart Gets A Head Start On iPhone 6 Case Sales, Key Apple Engineer Leaves For Social Networking Giant Facebook, and Microsoft Discusses The Design Philosophy Behind Office For The iPad.

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