Apple Finally Agrees to Buy Beats Music for $3B
Submitted by Jon Reed on
Several weeks of rumor, anticipation and speculation finally came to a close today when Apple (NASDAQ: AAPL) formally announced in a press release that it will indeed acquire Beats Electronics, along with the Beats Music subscription service, for $3 billion.

As part of the deal, Beats co-founders, Dr. Dre and Jimmy Iovine will join the team in Cupertino in as yet undisclosed roles. According to Iovine, "I've always known in my heart that Beats belonged with Apple... The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is