Posts tagged Beats by Dre
Beats by Dre deal is taking longer than expected and now may not be finalised until late next week. Following on from our report last week about Apple acquiring the audio company Beats by Dre recent news is suggesting the deal may take longer than first expected.
Apple’s planned deal to buy Beats Electronics for $3.2 billion may not be finalized until next week, according to people familiar with the transaction. That’s a longer timetable than some people expected as recently as a few days ago.
Once the deal has been finalised it is expected that the Beats co-founders Dr. Dre and Jimmy Iovine will take up senior roles within Apple. It is not yet clear weather this bold move by apple is in order to inject the company with new ideas to attract a younger generation or if it is simply a deal to gain access to the Beats song library and royalty deals which would give apple preferential rates and an advantage in the streaming market for iTunes. On another note Jimmy Iovine and Dr. Dre are said to be making their first appearances as employees of apple in the upcoming Worldwide Developers Conference (WWDC) later this year.
The co-Founders of Beats by Dre Dr. Dre and Jimmy Iovine are set to take up senior roles within apple after the companies £1.8 million ($3.2 million) acquisition last week.
The pair are set to take up part time / advisory style positions and are said to be commuting from the Los Angeles area where Beats is based to meetings at Apple’s headquarters in Cupertino and elsewhere as necessary.
The role the two are going to actually play in influencing apples decisions is still unclear but it is thought that this may be either a move to entice younger generations or possible be a very clever decision with a view to securing deals with record labels.
Apple is said to be re-designing iTunes in order to turn around the recent drop in music sales. The acquisition of the Beats Music streaming service along with a thriving hardware business and two experienced seasoned veterans of the music industry may help the company achieve this drastic revamp while introducing new ideas and hardware sales.