The music and technology industry was shook up significantly Thursday when The Financial Times broke the news that Apple is set to acquire Beats Music. The pending deal, reportedly worth $3.2 billion, would be the larges acquisition ever for Apple.
While no official announcement has been made from Beats Music or Apple about the acquisition, Beats founder and hip-hop legend Dr. Dre appears to confirm the big news in a video posted online by actor Tyrese Gibson. In the video Gibson is joking with Dre about being a part of the billionaires club.
"It's not often do you get to listen Beats with Mr. Beats himself," Gibson says. "Billionaire boys club for real. The Forbes list just changed. It came out like two weeks ago, they need to update the Forbes list. S*** just changed."
Dre, who stayed largely silent and in the background of Gibson's video chimes in at the very end saying, "the first billionaire in hip hop, right here from the mother f****** west coast."
Below is the entire video that was originally posted (and taken down) from actor Gibson's Facebook page. Warning, the video contains explicit language and is NSFW.
According to the Verge, Gibson's Facebook post with the video origianlly said,"How did I end up in the studio with Dr Dre ON THE night his deal went public that he did with Apple 3.2 BILLION," Gibson wrote. "The BEATS HEADPHONES JUST CHANGED HIP HOP!!!!!!"
"Apple will acquire Beats' streaming music service, which launched this year, and its audio equipment business, which included its brand of headphones and audio equipment," writes Financial Times. "The Beats management team will report to Mr. Cook, said people familiar with the deal. Apple and Beats declined to comment."
The purchase by Apple will include Beats newly launched music streaming service, Beats by Dre and other Beats music accessories. However, as Buzzfeed reports, that while Apple will use Beats Music the acquisition was largely to attain the services of Beats co-founder and Universal Music Group head Jimmy Iovine.
Calling him the anti-Tim Cook, Buzzfeed says Iovine is much more similar to the late Steve Jobs in terms of his personality and how he operates.
"In terms of persona, Iovine and Apple CEO Tim Cook couldn’t be more different," Buzzfeed writes. "Cook is precise, measured, financially risk averse (except for the Beats deal, apparently), low-key, and soft-spoken. Iovine is none of those things. He is, in fact, almost precisely the opposite. Bred in Brooklyn, Iovine is streetwise, loud, and a creative risk-taker. He is, dare we say it, very much a Jobs-like character."