The Cupertino tech giant would pay $3.2 billion for Beats, according to a person with knowledge of the talks, which would make it the biggest acquisition in Apple's history if the deal closes.
The acquisition agreement has not been finalized, but the companies could make an announcement next week, this person said.
A representative for Beats declined to comment. Representatives for Apple could not be immediately reached for comment.
Founded in 2008 by hip-hop star Dr. Dre and Interscope Geffen A&M Chairman Jimmy Iovine, Beats in January launched Beats Music, a streaming music service, to rival the likes of Swedish company