EU Regulators Expected to Decide on Apple's Acquisition of Beats By July 30
Apple's proposed acquisition of Beats Electronics is facing its first regulatory hurdle after the Cupertino company announced the deal last month. As reported by Reuters, European Union's Antitrust Commission is expected to make a decision on the purchase by July 30.
The EU regulators can approve the deal unconditionally, demand concessions if they have anti-competitive concerns or order a full investigation if they need more convincing that the acquisition will be a benefit and not a detriment to competition.
The pending $3 billion deal includes both Beats Electronics, which offers headphones and speakers, and Beats Music, a streaming music subscription service. Under the deal, Beats executives Jimmy Iovine and Dr. Dre will join Apple, giving the company a significant boost to its music industry connections.
Besides the EU, regulators in the United States also must examine the deal and determine whether there are any concerns with competition. Barring any unforeseen regulatory issues, Apple expects the transaction to close sometime next quarter.
Popular Stories
Apple's Worldwide Developers Conference (WWDC) starts today with the traditional keynote kicking things off at 10:00 a.m. Pacific Time. MacRumors is on hand for the event and we'll be sharing details and our thoughts throughout the day.
We're expecting to see a number of software-related announcements today, headlined by a reset on Apple's push into AI that should see a significant overhaul...
Apple today announced that macOS 27 is named macOS Golden Gate.
Much like Mac OS X Snow Leopard in 2009, Apple said it focused on improving macOS's performance and dozens of underlying technologies this year.
Apple says macOS Golden Gate offers quicker AirDrop transfers, faster network file browsing, improved syncing in the Messages app, better Spotlight search suggestions, and other...
Apple today announced a major overhaul of its Apple Intelligence platform, revealing a new architecture built on foundation models developed in collaboration with Google using the technologies behind the Gemini family.
The new architecture centers on Apple Foundation Models co-developed with Google, which Apple says are adapted to run both on-device and on servers through its existing...
