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Apple buys Beats for $3 billion, tapping tastemakers to regain music mojo

from The Wall Street Journal

Apple Inc. wants to regain the beat in its music business, which is under assault from a stream of upstarts. The tech giant recently said it is buying Beats Electronics LLC for $3 billion to bolster a music business that has lost some of its mojo, as streaming-music services encroached on the downloads dominated by Apple's iTunes service. In Beats, Apple is getting a music-streaming service, high-end headphones and music-industry connections. Beats' co-founders, rap star Dr. Dre and music mogul Jimmy Iovine, will join Apple. more


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