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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