Apple To Finalize Beats Deal This Week For $3 Billion

By 04:19 Tue, 20 Jul 2021 Comments

The news about Apple acquiring popular audio equipment manufacturer Beats Audio came three weeks ago, but the deal is yet to be confirmed by the Cupertino giant. This is about to happen now as The New York Post reports that Apple is preparing to finalize the purchase this week.

The acquisition was initially assumed to be valued at $3.2 billion, but the company has rounded down the amount to a $3 billion, after what sources indicate is a more accurate evaluation of Beats' actual worth.

Several reports surfaced earlier this week of Beats co-owner Dr. Dre's allegedly inebriated boast that he would become the first billionaire rapper following the acquisition, which some sources claim put the entire deal at risk.

Ironically, the lower $3 billion valuation would mean Dr. Dre would grosses a maximum of $750 million from the deal, which added to the $275 million he earned over the past three years would still put him just shy of a seven figure net worth due to taxes.

Apple would meanwhile acquire the company's first music streaming service, Beats Music, which many analysts value almost as highly as its popular headphones and speaker brands.

Source | Via



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