Rumor Mill: Apple's $3.2B deal for Beats is about getting Dr. Dre

Apple (NASDAQ: AAPL) still has not yet formally announced any deal to acquire Beats Electronics, which reports earlier this month said would be worth $3.2 billion. According to a new report from TechCrunch, the deal is going to happen but it's mainly about getting the talent at the top of Beats, especially its co-founders, the rapper and mogul Dr. Dre and music industry executive Jimmy Iovine. The report, which cited an unnamed source, said with "70% certainty" that Apple's deal for Beats will go through. However, pundits have wondered why Apple would spend that much money on a headphone maker with a fledgling streaming music service. "They want Jimmy and they want Dre," said the source. "He's got fashion and culture completely locked up." According to the report, the deal "will give Apple youth cachet thanks to the brand and business chops with the Iovine/Dre mix." Article

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