If you thought Dr. Dre and Jimmy Iovine were already loaded thanks to their ridiculously successful headphone brand, Beats Electronics, you ain’t seen nothing yet. According to a report by the Financial Times, Apple is in talks to purchase the successful audio company for a reported $3.2 billion. Even for a guy with a net worth of $550 million, that’s not chump change. According to the report, if successful, the acquisition would be the largest in the Cupertino tech giant’s history.
Apple Inc. is close to striking a deal with Dr. Dre. In what would be the largest-ever purchase by the iPhone maker, Apple is in advanced talks to acquire headphone maker and music-streaming service Beats Electronics LLC for $3.2 billion, people with knowledge of the matter said. A deal for the Santa Monica, California-based company, which was founded by music-industry executive Jimmy Iovine and hip-hop artist Dr. Dre, would bolster Apple’s online music capabilities by giving it ownership of the Beats Music service that started earlier this year. For $10 a month, subscribers get unlimited access to all of the songs in the service’s catalog through a smartphone, tablet or Web browser.