Apple Expected To Buy Beats Electronics
Friday, May 9, 2014
The deal is worth more than $3 billion, according to the Financial Times. The headphone maker and music streaming distributor was founded by hip-hop star Dr. Dre and record producer Jimmy Iovine.
STEVE INSKEEP, HOST:
NPR's business news starts with iPhones and headphones.
Apple is set to buy Beats Electronics for more than $3 billion. That's according to a report in the Financial Times. Beats is a headphone maker founded by hip-hop star Dr. Dre and the producer Jimmy Iovine.
Ironically, Iovine has said the inspiration to found Beats six years ago was the poor-quality headphones that Apple put in with its products. He offered a better alternative, and Apple hobbled the old adage if you can't beat 'em, buy 'em. Transcript provided by NPR, Copyright NPR.View this story on npr.org