The ink has now dried and the rumour mills can now stop churning!
It’s official, Apple has said on Wednesday that it is buying Beats Electronics LLC for $3 Billion.
The deal will pay $2.6 Billion in cash and $400 Million in equity for Beats Music, the subscription music streaming business and Beats Electronics.
Co-founders Dr. Dre and Jimmy Iovine will join Apple and Beats will retain it’s brand.
Still, the big question on everyone’s lips is “is Dr. Dre a billionaire?”
Seriously, who gives a flying fish if he is or not. The personal figures won’t be released until someone like Forbes breaks it down.
At the end of the day, this is not only a big deal for hip hop, but a big deal for music in general.
Read more about this deal on Global14.com