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Apple confirms it will buy Beats for $3 billion
Apple confirms it will buy Beats for $3 billion

Apple Inc. has confirmed that it has reached a deal to buy headphone maker Beats Electronics and digital music service Beats Music. The Cupertino tech giant said Wednesday that it will acquire the two companies for a total of $3 billion. That's less than the $3.2 billion Apple was said to be prepared to pay for Beats when talks leading up to the deal were reported earlier this month, but is still easily the biggest acquisition in the company's history. Beats, which is headquartered in Culver City, was founded by music mogul Jimmy Iovine and hip-hop star Dr. Dre in 2008, and is best known for its premium headphones. It launched the subscription music service Beats Music as a...

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