Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/29/2014 (6 months ago)

Catholic Online (www.catholic.org)

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.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/29/2014 (6 months 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'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for December 2014
Christmas, hope for humanity:
That the birth of the Redeemer may bring peace and hope to all people of good will.
Parents: That parents may be true evangelizers, passing on to their children the precious gift of faith.



Comments


More Music

'Gangnam Style' breaks YouTube's bank - surpassing 2,147,483,647 views! Watch

Image of Dating as far back as 2012,

By Troy Dredge, Catholic Online

A high-energy music video with a catchy techno beat has proved that sometimes, there is such a thing as being "too popular." "Said video, "Gangnam Style" by South Korean rapper PSY has proven to be an international super smash. So much so, that YouTube's ... continue reading


Here's the right song for the season! Listen and share, 'Mary Did You Know?' by Pentatonix Watch

Image of Mary did you know?

By Catholic Online (NEWS CONSORTIUM)

Here is a new, moving take on a Christmas classic. We know it's a bit early for Christmas, but as long as it moves us closer to Mary and our Beloved Jesus Christ, it transcends the holiday and touches our heart, no matter the season. Mary did you know that your baby ... continue reading


Legendary blues bassist Jack Bruce dies at 71 Watch

Image of Jack Bruce formed Cream with guitarist Eric Clapton and drummer Ginger Baker. Bruce along with co-writer Peter Brown, for penning the majority of the band's songs.

By Catholic Online (NEWS CONSORTIUM)

Jack Bruce, bassist and singer for the classic rock group Cream, has died aged 71. He had been suffering from liver disease. Announced on his official Web site this week, his death was confirmed by his publicist Claire Singers. "Jack died today at his home in ... continue reading


Paul Revere of Paul Revere and the Raiders dead at 76 Watch

Image of Paul Revere kept touring well into his later years, in spite of an ongoing battle with cancer.

By Catholic Online (NEWS CONSORTIUM)

"Kicks" keep getting' harder to find, Paul Revere - his real name, sort of - of Paul Revere and the Raiders warned in their hit single. "Kicks" was a staunch anti-drug anthem at a time when a generation was encouraged to tune in, turn and drop out. Decked out ... continue reading


Longtime folk favorite Cat Stevens to tour U.S. in December. First concerts since 1976. Watch

Image of In today's forbidding political climate, with the U.S. fighting Islamic State militants in the Middle East, Cat Stevens said he didn't expect his Muslim faith to be an issue when he goes on the road in the U.S.

By Catholic Online (NEWS CONSORTIUM)

In the Seventies, "Buddha in the Chocolate Box" by Cat Stevens was never far from any working turntable. Stevens, a troubadour of the times sang such standards as "Cat's Cradle." He left the music world in 1976 concurrent with his conversion to Islam. Stevens ... continue reading


Dr. Dre is doing OK! Apple to buy his Beats for $3 billion Watch

Image of 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)

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. LOS ANGELES, CA (Catholic Online) - Under the terms ... continue reading


It is Not too late for a Musical St. Patrick's Day. Watch

Image of John Kinsella

By Robert Reilly

The quality of these four works by John Kinsella is such that the fact that all 10 symphonies are not available in recordings constitutes some kind of scandal. There is no room here to give individual impressions of the four symphonies. In general, I would say ... continue reading


Last of the singing clan in 'The Sound of Music,' Maria von Trapp dies at 99 years of age Watch

Image of Maria von Trapp later served as a lay missionary in Papua, New Guinea after her singing career. She never married.

By Catholic Online (NEWS CONSORTIUM)

The last of the singing children of the Von Trapp family has passed away at the age of 99. Maria Von Trapp immortalized in the musical classic "The Sound of Music," has died at her Vermont home of natural causes. LOS ANGELES, CA (Catholic Online) - Maria von ... continue reading


Countdown to Christmas #2: Some Children See Him Watch

Image of

By Deal W. Hudson

Countdown to Christmas #2-- "Some Children See Him," composed by Alfred Burt (1920-1954) an American jazz musician. Burt composed the music for fifteen Christmas carols between 1942 and 1954. Several of his Christmas songs would eventually become "classics,' ... continue reading


Musical Countdown to Christmas #1 -- What Wondrous Love is This? Watch

Image of

By Deal W. Hudson

The melody itself dates back to the early 1600s, but camp meeting attendees during the Second Great Awakening would sing the hymns printed in these hymnals to a variety of popular melodies, including "The Ballad of Captain Kidd", which was well known at the time; ... continue reading


All Music News

Newsletters

Newsletter Sign Up icon

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

Daily Readings

Reading 1, Isaiah 7:10-14
10 Yahweh spoke to Ahaz again and said:11 ... Read More

Psalm, Psalms 24:1-2, 3-4, 5-6
1 [Psalm Of David] To Yahweh belong the earth and all ... Read More

Gospel, Luke 1:26-38
26 In the sixth month the angel Gabriel was sent by ... Read More

Saint of the Day

Saint of the Day for December 20th, 2014 Image

St. Dominic of Silos
December 20: Benedictine abbot and defender of the faith. Born in Canas, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter