Apple to complete cheaper Beats deal this week
After the news that the deal between Beats and Apple was on hold for various reasons word is that it could all be signed and sealed this week.
The multi-billion dollar deal between Apple and Beats that’s set to make the first billionaire hip-hop artist stalled for some reason. One of those reasons has been rumoured to be due to the early leak of the news in a video featuring Beats co-founder Dr Dre.
When the news leaked a few weeks ago, Apple were rumored to be buying Beats Audio for $3.2 billion, and now according to a recent report, Apple has negotiated the price of the purchase down to $3 billion. Yeah, still not what I’d call ‘cheap’.
Apple apparently wants Beats Audio for a number of reasons, one is for their Beats Music streaming service, and apparently the news that Beats only had 111,000 subscribers in March haven’t helped the negotiations on the purchase price.
When the news of the $3.2 billion purchase price was leaked, Apple had apparently not completed their due diligence on the deal, and have now settled on a slightly lower figure of $3 billion for the acquisition.
If the deal is signed off before the end of the week, then we could expect some sort of official announcement at the Apple WWDC 2014, which takes place next week.