According to recent reports, Apple has cut the price of their bid for Beats Electronics by $200 million. What gives?
Were they pissed about the video that Tyrese shot with Dr. Dre boasting about being the "first billionaire from hip-hop"? If they were, it doesn't seem to be the case here. When news broke that Apple was getting ready to buyout the company, news came out that Beats Music, the company's music subscription service, only had about 111,000 subscribers. Ouch. So this isn't exactly crazy numbers when compared to competitors like Spotify that have millions of users. But Apple feels like Beats' headphone business is worth the price, so the company is still willing to buy Beats for $3 billion flat.
Apple is expected to make the deal public this week. Reports are that Dr. Dre could be $750 million richer when it goes through.
[via NY Post]
