Straight outta Cupertino! Here's how Apple's takeover of Dr. Dre's Beats could make him rap's first billionaire

Rumors have been flying since late last week about Apple's presumed $3.2 billion acquisition of headphone maker Beats Electronics.

    2014/05/12

NSFW    Rumors have been flying since late last week about Apple's presumed $3.2 billion acquisition of headphone maker Beats Electronics.

The company, which was founded in 2008 by music producer Jimmy Iovine and rapper Dr. Dre, is known primarily for its over-priced bass-heavy headphones. More fashion accessory than marvels of engineering, audiophiles wouldn't be caught dead wearing them, but the company's products have quite the following among the fashion-conscious.

Analysts believe the less-than-warm reception to last year's release of iTunes Radio may be partly to blame for the surprising move, which has left loyal Apple fans puzzled. The streaming service was launched to combat flagging iTunes sales in hopes of emulating some of the success of young upstarts like Spotify.

Apple seems to think the newly-released Beats Music service can help turn things around for them.

The iPhone maker has tended to focus on smaller acquisition targets in the past, so who’s to say that this time around things will go down smoothly?

Apple hasn't forgotten about Beats co-founder Dr. Dre, though, who, along with Iovine, is expected to join the tech giant in a senior role.

Given the doctor's large stake in Beats Electronic, he may well become hip hop's first billionaire.
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