Apple's $3 Billion Deal To Buy Beats Is Official

Apple officially announced its deal to buy popular headphones maker Beats Electronics and its related streaming music service, Beats Music, for $3 billion, the company announced on Wednesday. Beats co-founders Jimmy Iovine and Dr. Dre will join Apple as part of the deal, and the deal will likely close by Sept., Apple says. "I’ve always known in my heart that Beats belonged with Apple," Iovine says in the press release.

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