Report: Apple to acquire Beats Electronics for $3.2 billion
According to a Financial Times report, Apple is set to announce its acquisition of headphone manufacturer Beats Electronics for $3.2 billion "as early as next week."
The company, currently the American leader in headphone sales, was founded in 2008 by Interscope Records chairman Jimmy Iovine and hip-hop legend Dr. Dre, and it expanded this year with a subscription-based online music service, called Beats Music, that currently competes with Apple's own iTunes Radio offering.
