A new report from Bloomberg indicates that as part of Apple’s Beats acquisition, Paris-based Vivendi SA sold its approximately 13 percent stake in Beats Electronics to Apple for $404 million. Held by the company’s Universal Music Group, the stake’s value reportedly almost doubled in value from a September 2013 estimate of $214 million, according to an analyst at Kepler Cheuvreux in Paris.
Report: Vivendi SA sold its Beats stake for $404 million
Jesse Hollington
Jesse Hollington was a Senior Editor at iLounge. He's written about Apple technology for nearly a decade and had been covering the industry since the early days of iLounge. In his role at iLounge, he provided daily news coverage, wrote and edited features and reviews, and was responsible for the overall quality of the site's content.