Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

EU antitrust authority approves Apple's $3 billion deal to buy headphone, music firm Beats

Beats Audio equipment is arranged for a photo next to an Apple laptop at Best Buy in Boston on May 9, 2014. THE CANADIAN PRESS/AP, Michael Dwyer

Enlarge Image

Beats Audio equipment is arranged for a photo next to an Apple laptop at Best Buy in Boston on May 9, 2014. THE CANADIAN PRESS/AP, Michael Dwyer

BRUSSELS - The European Union's antitrust authority has cleared Apple's $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services.

The 28-nation bloc's executive Commission said Monday the transaction does not threaten competition because the firms' combined European market share in both fields will be low while facing strong competitors.

The takeover of Beats Electronics and Beats Music announced in May for $2.6 billion in cash and $400 million in stock is the most expensive acquisition in Apple's 38-year history.

The move to buy Beats, founded by rapper Dr. Dre and Jimmy Iovine, was widely seen as a bid to counter the increasing threat posed by music streaming services like Pandora and Spotify to Apple Inc.'s iTunes store.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media

Canadian Mortgage Rates