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Apple pays $3 billion for Beats

Following weeks of speculation, Apple has announced it would pay $3 billion for Beats Electronics, the company founded by Jimmy Iovine and rap star Dr Dre. Apple is banking particularly on the former’s music credentials to rejuvenate its music business. http://www.nytimes.com/2014/05/29/business/media/jimmy-iovine-a-master-of-beats-lends-apple-a-skilled-ear.html?emc=edit_th_20140529&nl=todaysheadlines&nlid=68163943

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