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Market Update

Apple and Beats Electronics Talk $3 Billion Deal

Author: Bikram Pandey
Last Update: 10:58 AM ET May 09 2014

Apple Inc is said to be in discussion to acquire privately held for Beats Electronics for as much as $3 billion according to people close to the company.

The maker of popular Beats by Dr. Dre headphones would be the largest purchase by Apple as sales of music through the iTunes stores slowdown and more people around the world opt for streaming music services.

As many as 28 million people are said to be paying $1.1 billion around the world for music streaming services, according to the data available from International Phonographic Industry.

The largest Internet radio service is operated by Pandora with 75 million monthly users.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc