Friday, May 09, 2014, 05:29 am PT (08:29 am ET)
Dr. Dre, Tyrese share Heineken-fueled celebration of Apple's alleged Beats acquisitionIn 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.
Dr. Dre and LeBron James wearing Beats.
Apple buys Beats
Apple has confirmed it will buy Beats for $3 billion, making it the company's largest acquisition ever. Beats is best known for its premium headphones, but also recently launched a subscription music streaming service that was the key to Apple's interest.
Full coverage of Beats & Apple
"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!!!!!!"
Word that Apple was nearing a $3.2 billion acquisition of Beats broke late Thursday afternoon. It was quickly followed by a rumor that Beats CEO and Universal Music Group chairman Jimmy Iovine was in talks to join Apple as a "special advisor" to CEO Tim Cook.
Note: The video embedded below includes profanity.
According to reports, Apple would control both the Beats headphone business and its new streaming music service. Many industry observers have expressed skepticism, however, that either of those rumors are legitimate.
Beats is not thought to have much in the way of proprietary technology, generally the driver of acquisitions for Apple. The company's streaming music rights are also unlikely to be transferable, meaning they would need to be renegotiated regardless of the deal's structure.
On Topic: General
- Judge voices concern over Apple's $450M e-book settlement, says may hurt consumers
- Apple concept would automatically enable iOS 'Do Not Disturb' mode during exercise
- Apple to open 12th Chinese retail store in Wuxi's Center 66 mall next week
- Apple's e-wallet could debut as soon as this fall, possibly with 'iPhone 6'
- Apple hit with class action lawsuit over alleged labor violations, more than 20K plaintiffs involved