Music mogul Dr. Dre may want to hurry up a potential multi-billion dollar Beats Electronics sale to Apple as reports claim the tech giant has now lowered its offer. #PriceIsRight
According to reports, Apple swiped away $200 million from its original deal.
The tech titan is expected to announce its acquisition of Beats Electronics this week — at the slightly reduced price of $3 billion, The Post has learned. A report in the Financial Times earlier this month tipping the deal put the price at $3.2 billion. That may have been the case, but negotiations between Apple CEO Tim Cook and the company co-founded by Dr. Dre were not helped by a leaked report that had Beats Music with just 111,000 subscribers to its streaming service in March. (NY Post)
Dre protégé Game jumped onto his Instagram page a few weeks ago and tipped his hat off to him in light of the pending $3.2 billion Apple/Beats Electronics deal.
“#FlashbackFriday A BILLIONAIRE in the making. Congrats big homie !!!!!!!! #Compton,” Game wrote May 9. (Game’s Instagram)
A video of singer Tyrese and Dre celebrating the mega deal popped onto the singer’s Facebook page a day prior.
In a video initially posted to Facebook and subsequently pulled, West Coast rappers Dr. Dre — the cofounder of Beats Electronics — and Tyrese appear to be celebrating the rumored sale of Dre’s headphone brand to Apple, seeming to confirm that the deal is legitimate. “How did I end up in the studio with Dr Dre ON THE night his deal went public that he did with Apple 3.2 BILLION!!!!! The BEATS HEADPHONES JUST CHANGED HIP HOP!!!!!!” (Apple Insider)
Details of the potential deal surfaced online earlier this month.
Apple is set to acquire headphone maker and music company Beats Electronics for a reported $3.2 billion. The acquisition could be announced as early as next week, the Financial Times reported, based on people familiar with the negotiations. USA TODAY independently confirmed the deal through a source who is not authorized to speak publicly about it. (USA Today)