News - 28/05/2014

Report states Beats price reduced to $3bn and announcement happening this week

Report states Beats price reduced to $3bn and announcement happening this week


Another day, another rumour on the Apple/Beats saga. The long-debated acquisition of Beats Electronics and Beats music is reportedly going to happen, this is according to a report by the New York Post.

The publication states that acquisition should be officially revealed this week and that the purchase price has been reduced to $3bn. Presumably the reduction is linked to a re-evaluation of Beats Music, the streaming service Apple is keen to acquire but that has according to a report recently leaked only 111k subscribers in spite of Beats’ and AT&T’s efforts to market it as a mainstream product.

Entering a completely speculative domain, it could also be that Dr Dre’s inappropriate video posted just a day after the Financial Times scoop around the potential acquisition could have caused the price drop and cost the company a cool $200 million, but we’ll never know - Billboard stated last week that the Apple family was outraged by it.

Apple has been rumoured to be planning a big announcement around the connected home at the upcoming WWDC, the company’s developer conference, and a music streaming service could fit nicely as part of a home ecosystem.

(Andrea Leonelli)

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