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Dre headphonesApple announced the purchase of Dr. Dre’s Beats Electronics for $3 billion.

It reported that  iTunes sales are slowing down becauses users stream services such as Pandora and Spotify to meet their music needs so this move gives Apple a subscription music service.

In addition to bringing a streaming music service under the iTunes umbrella, the deal brings veteran music producer Jimmy Iovine and producer Dr. Dre to Apple. The pair could help Apple negotiate favorable music deals.

Dr. Dre

 

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