After the news leaked a few weeks ago Apple have finally confirmed the news that they will purchase Beats Electonics for the round figure of $3 billion. The purchase includes the popular headphone range Beats By Dre and their new music streaming service Beats Music. Jimmy Iovine and Dr. Dre, the company’s co-founders, will join Apple as part of the deal.
Above they can be seen with Apple CEO Tim Cook and Eddy Cue, Apple’s SVP of Internet Software and Services. Things just aint the same for gangstas.
Two years ago we caught up with Dr Dre and Jimmy Iovine at a Beats By Dre event in London. If you missed it check it out below where we grabbed a quick interview with Jimmy Iovine.
We are still waiting for official confirmation by Apple or Beats Music for the reported $3.2 billion deal between the companies however Dr Dre seemed to confirm the deal.
In a recently released video with Tyrese, Dr Dre refered to himself as “The first billionaire in hip-hop. Right here from the motherfuckin’ West Coast.”
When the deal comes through Dr Dre will surpass Diddy on the Forbes Hip Hop rich list. Dr Dre is the majority owner of Beats Electronics and their new music subscription service “Beats Music” along with Jimmy Iovine.
They are estimated by Forbes to own 20-25% of the company each. This could see them make $800 million each and bump up Dre’s total net worth to over $1 billion depending on the final sale figure and taxes. The deal would also see Apple become one of the leading players in music streaming industry with Beats Music. Congrats to Dre and Jimmy. Things just aint the same for gangstas. #ForgotAboutDetox #BiggerBusinessToTakeCareOf
Westcoast rapper The Game is set to join Lil Wayne, Drake and Nicki Minaj as the latest signing to Cash Money records. Birdman took to Twitter to welcome him with the Game also confirming the news on Twitter.
S/O thagame shit to real whtup 5 west coast whts popin RICHGANG YMCMBusine$$ http://t.co/0dnczys9Qc
— BIRDMAN (@BIRDMAN5STAR) October 13, 2013
Diddy called into Hot 97 from Cannes, France to announce his new channel Revolt TV will partner up with Time Warner Cable. The netowrk is expected to launch in Fall.
Iggy Azalea sat down with Karen Civil TV to explain her new deal with Def Jam and her relationship with T.I. and Grand Hustle.
Jay-Z is no longer an owner of the Basketball team the Brooklyn Nets. He has had to reliquish his share in the team so he can work on his new venture Roc Nation Sports. Check out the full press release below.