It’s Official: Apple Buys Beats For 3 Billion Dollars

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Dre Apple Beats

According to the New York Times, Apple said on Wednesday that it was buying Beats Electronics for $3 billion, in a move that will help it play catch-up with rivals that offer subscription-based music services.

Apple’s chief executive, Timothy D. Cook, praised the contribution that  Dr. Dre and Mr. Iovine will be bringing to Apple by saying,

“These guys are really unique. It’s like finding the precise grain of sand on the beach. They’re rare and very hard to find.”

The Beats deal brings Jimmy Iovine and Dr. Dre  to work under Eddy Cue, Apple’s executive in charge of Internet services. Dre and Iovine will be joined by Angela Ahrendts, the former chief of Burberry, and Paul Deneve, the former chief of Yves Saint Laurent.

Mr. Cook said Dr. Dre and Mr. Iovine would work with Apple on the next generation of music offerings but declined to share details about future products.

Cook revealed that they would be working on,

“products you haven’t thought of yet, and seeing around the next corner to articulate the way to take music to an even higher level than it is now.”

Well, there you have it! Congrats to Dre on his huge accomplishment! As they used to say in those commercials way back when…Andre Young…”You’ve come a long way baby…uhh huh!”

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