Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/29/2014 (1 year ago)

Catholic Online (

Analysts find Beats a worthy acquisition for Apple

Dr. Dre? He's doing more than OK! Computer titan Apple is buying his company, Beats - which he co-founded for Jimmy Iovine, is being bought out for a cool $3 billion. Rumors had been brewing for several weeks.

Dr. Dre? He's doing more than OK! Computer titan Apple is buying his company, Beats - which he co-founded for Jimmy Iovine, is being bought out for a cool $3 billion.

Dr. Dre? He's doing more than OK! Computer titan Apple is buying his company, Beats - which he co-founded for Jimmy Iovine, is being bought out for a cool $3 billion.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

5/29/2014 (1 year ago)

Published in Music

Keywords: Apple, Beats, Dr. Dre, acquisition, Jimmy Iovine

LOS ANGELES, CA (Catholic Online) - Under the terms of the agreement, Apple will pay $2.6 billion up front, plus another $400 million over time. Beats Electronics has been known for their stylishness. Part of the deal will include a streaming service with Beats Music.

While exciting in some quarters, the agreement is relatively "chump change" for Apple. As of last year, the company has $159 billion in the bank.

Starvation never takes a vacation --

Some are questioning the acquisition of Beats. While the music streaming service has an estimated half million customers, this is relatively small in comparison to Spotify's four million subscribers. The music streaming service Pandora is valued by investors at $5.2 billion, and has more than 250 million active accounts. Apple could buy Pandora thirty times over. 

Apple CEO Tim Cook greeted the acquisition with enthusiasm. The deal, he says, brings together "extraordinary teams so we can continue to create the most innovative music products and services in the world." Apple expects the deal to close in late summer or early fall.

Beats founders Iovine and Dr. Dre are both successful music producers who launched the company back in 2006 and quickly grew it via celebrity endorsements.

Dre has declared himself "the first billionaire in hip hop." His stake in Beats, estimated at 20 to 25 percent, is expected to push his net worth of $550 million close to that number. It's unconfirmed if Dre is a billionaire just yet.

Iovine described the deal as a match made in heaven. He said the whole Beats concept was inspired by Apple's perfect blend of culture and technology.

"I've always known in my heart that Beats belonged with Apple," Iovine said in a statement.

Both Dre and Iovine intend to join Apple, so Iovine is stepping down from his perch as CEO of the record company Interscope Geffen A&M.


Pope Francis: end world hunger through 'Prayer and Action'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Music

8-year-old jazz singer captivates the world with her soulful 'Amy Winehouse' voice Watch

Image of


Angelina Jordan is well-known in her home country, Norway, after participating and winning a national TV contest. But now, the 8-year-old jazz singer has captivated audiences from all over the the world after a recently uploaded video of her performance. The young girl ... continue reading

Chris Brown tired of the Devil in his life: Singer claims he heard God speak for the first time Watch

Image of Chris Brown performing onstage


Chris Brown recently posted on his Instagram account that he was tired of the "devil ruining" his life. The international singer and actor shows indications of leaning towards a better chapter in his life. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Singer Chris ... continue reading

Rio de Janeiro's music scene enters new depths with a surprising sound Watch

Image of


Something big is brewing in Rio de Janeiro. The monthly hip-hop block party called Black Santa was recently staged near the peak of the Prazeres favela, on a hillside above central Rio. MUNTINLUPA, PHILIPPINES (Catholic Online) - Twenty-two-year-old Renato Cantanhede, ... continue reading

Two top named musicians set to perform for Pope Francis during his September visit to the United States Watch

Image of Juanes has more than 10 million followers on Twitter.


Colombian star Juanes and the Italian tenor Andrea Bocelli will be performing during the international Catholic prayer event, the 8th World Meeting of Families, in Philadelphia. The two will be performing for the Pope in September during the U.S leg of his ... continue reading

Famous country singer dead after gunfight with bounty hunter Watch

Image of


Sixty-five-year-old country singer Randy Howard was shot on June 9, 2015 by a bounty hunter at Howard's home. It was reported that Howard was being detained by the bounty hunter, wanted on a DUI charge. MUNTINLUPA, PHILIPPINES (Catholic Online) - Country singer Randy ... continue reading

'She was absolutely beautiful in every way': Fans pray for country singer after death of his newborn daughter Watch

Image of


Messages of encouragement and prayers pour through the Facebook page of country singer Randy Rogers, of the Randy Rogers' Band, after news of the death of his and his wife's newborn infant six days after she was born come forward. Days before, Rogers made an ... continue reading

U2 prays with Pastor Rick Warren before playing concert hours after death of their beloved tour manager Watch

Image of

By Hannah Marfil (NEWS CONSORTIUM)

Heartbroken and in grief band members of U2 asked Pastor Rick Warren to pray with them before going onstage hours after the death of their tour manager. Dennis Sheehan, U2's longtime tour manager, was found dead in his hotel room, last week in Los Angeles. Sheehan ... continue reading

ValLimar Jansen's latest album 'a soulful experience'

Image of

By Kelcee Marcum, Oregon Catholic Press

A unique mixture of genres, ValLimar Jansen's latest album, "Spirit & Soul," contains elements from gospel and praise and worship while escaping the confines of either genre. PORTLAND, Ore. (OCP) - "This is not a gospel record or even a praise and worship record, ... continue reading

'When a Man Loves a Woman' singer Percy Sledge dies at 73 Watch

Image of Percy Sledge's first and biggest hit,

By Catholic Online (NEWS CONSORTIUM)

He would have many chart-topping hits in his lifetime, but it all boiled down to his signature tune - "When a Man Loves a Woman," that would ensure him his lasting fame. Rhythm and Blues singer Percy Sledge has died at the age of 73. He had been in hospice care ... continue reading

Hit country song banned from radio stations after surprising uproar Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

Despite selling 25,000 copies in a week, Little Big Town's newest hit song "Girl Crush" was forced not to be played on air after complaints from listeners of country radio stations. According to the reports, the song had earned negative reviews from people subscribing ... continue reading

All Music News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

Saint of the Day

Saint of the Day for October 4th, 2015 Image

St. Francis of Assisi
October 4: Founder of the Franciscan Order, born at Assisi in Umbria, in ... Read More