Apple is finally going to buy Beats next week

28 May 2014

Dr_Dre_Net_Worth The news that Apple was buying Beats for $3.2bn broke a while ago, but after a few delays, the ubiquitous megacorp are due to put their hands in their pockets and actually buy it this week.

Maybe they were waiting for a cheque to clear?

Rumours that the deal had fallen through were rife, after the company announced the bid on May 8th, then went suspiciously silent. Actually, they’ve used this time wisely, by haggling the original price down to a nice round $3bn.

It could be that the drop in asking price was because Spotify, Beats Music's main rival, has reached 10 million subscribers - and that could have given Apple a bit of leverage in the cash negotiations.

Anyway, it's still a LOT OF MONEY, and there will be a big fanfare and announcement in time for Apple’s Worldwide Developer Conference next week. Beats founders Jimmy Iovine and Dr Dre will apparently be in attendance, wearing outfits made of gold.

In fact, Dre will probably be extremely happy about the whole thing, seeing as he stands to gain $750m from the deal. No chance of anyone forgetting about him now, eh?

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