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Apple has been in talks with rapper Dr. Dre to buy the audio equipment and music streaming service he co-created.
According to Bloomberg News, Apple Inc. is reportedly close to a deal with the rap mogul to buy Beats Electronics. However, a YouTube video shows Dre already proclaiming “the first billionaire in hip-hop, right here.”
If the $3.2 billion deal is or does get done, it will be Apple’s largest ever and will propel Dre to the top of Forbes list as the richest rapper. A title currently held by Diddy.
For Apple, the acquisition would undoubtedly boost sales. The headphones retail for more than $100 and are a very popular item and fashion statement for teens, as well as celebrities. And, the Beats Music streaming service started by Dre and music executive Jimmy Iovine a little over a year ago, have challenged services like Spotify Ltd. in subscription streaming.
For $10 a month Beats Music subscribers have access to all the songs offered in its catalog.
Apple has not yet confirmed the news, which Financial Times first reported on Thursday.