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Apple’s Beats deal is happening this week, but for a cheaper price

28
May
2014

Apple is expected to announce its Beats acquisition this week, the New York Post has learned, and the iPhone maker will apparently acquire Dr. Dre’s company for less than initially expected. Apparently leaks in the press – not related to Dre’s acknowledgement of the deal recorded on video – convinced Apple lawyers to re-evaluate the purchase, and offer Beats “just” $3 billion, down $200 million from the previous offer. Apple’s bid is lower than initially rumor because of Beats’ low number of Beats Music subscribers. A recent report revealed the company only has 111,000 paying customers, which is far lower than similar competitors – Spotify for example has 10 million paying subscribers, or roughly one in four Spotify users. “Apple hadn’t

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