Dr. Dre, Tim Cook


He's still D.R.E, but with some extra cash in his pocket.

E! News has confirmed that Apple has agreed to acquire Dr. Dre's streaming music service Beats Music, and Beats Electronics, which makes the popular Beats by Dre headphones, speakers and audio software for a cool $3 billion. Dre and his Beats co-founder Jimmy Iovine will reportedly get $2.6 billion in cash and $400 million in Apple stock.

Additionally, the two business partners also now have jobs with Apple.

Talk about the deal of a lifetime!

"I've always known in my heart that Beats belonged with Apple," Iovine said in a statement. "The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology. Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."

Apple CEO Tim Cook shared a happy photo of the bunch after the sale, tweeting, "Sharing a laugh with Jimmy, Dre, and @. Excited to welcome the team to . It's all about the music."

Meanwhile, Dre posted a photo of his famous headphones on Instagram with the text, "Here's to the next episode. #AppleBeats," referencing his famous 2001 hit.

  • Share
  • Tweet
  • Share