CNBC has reported that, finally, Apple will acquire Beats By Dre for the originally reported $3 billion dollars. In the deal Apple will pay $2.6 billion in straight cash homie, and another $400 million in equity for the audio company.
After the announcement Billboard has reported that Jimmy Iovine will - predictably and understandably - leave his position as chairman and CEO of Interscope Geffen A&M to become an executive at Apple. I am definitely in the wrong business.
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