Apple's Purchase of Beats May Not Be Finalized Until Next Week
Following reports last week that Apple had purchased Beats Electronics, it was thought the deal would be finalized and announced this week. However, Re/code is reporting the deal may not be finalized until next week.
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 is completed, Beats co-founders Dr. Dre and Jimmy Iovine are expected to take on senior roles at Apple, with Iovine potentially becoming Apple's new music chief. In addition, Iovine and Dre's first official appearance as Apple employees is expected to take place at June's Worldwide Developer Conference.