Apple Confirms Beats Acquisition

After weeks of speculation, Apple officially confirmed their $3 million acquisition of Beats this week. Beats founders Jimmy Iovine and Dr Dre will take undisclosed executive roles at Apple, and the Beats team will report directly to Apple SVP of Interim Software and Services, Eddy Cue. The deal is expected to officially close by the end of Apple's fiscal 4th quarter (end of Sept 2014). Check out the full story on the Apple/Beats acquisition here.