Apple Expected To Buy Beats Electronics

The deal is worth more than $3 billion, according to the Financial Times. The headphone maker and music streaming distributor was founded by hip-hop star Dr. Dre and record producer Jimmy Iovine.

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STEVE INSKEEP, HOST:

NPR's business news starts with iPhones and headphones.

Apple is set to buy Beats Electronics for more than $3 billion. That's according to a report in the Financial Times. Beats is a headphone maker founded by hip-hop star Dr. Dre and the producer Jimmy Iovine.

Ironically, Iovine has said the inspiration to found Beats six years ago was the poor-quality headphones that Apple put in with its products. He offered a better alternative, and Apple hobbled the old adage if you can't beat 'em, buy 'em.

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