NY Post: Apple to acquire Beats this week for reduced $3B price

Updated

Apple will announce its anticipated acquisition of Beats Electronics this week in a $3 billion deal, the New York Post reports. The initial report on the acquisition pegged the sale at $3.2 billion, but it’s speculated that a recent report which claimed that Beats Music only had 111,000 subscribers in March “may have led Apple’s lawyers to value the firm on a slightly lower basis.” According to one source, “Apple hadn’t even begun its due diligence process when news of the number came out.” Apple declined comment.

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Phil Dzikiy

Phil Dzikiy was the Editor-in-Cheif at iLounge. He mostly edited and oversaw all site editorial content, managed staff and freelancers, made the final call on product review grades and awards, and led online coverage of all Apple events and live coverage of the International CES in 2015.