Apple Snaps Up Another Piece of Beats

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Apple's acquisition of Beats Music took another step forward on Friday.

French media conglomerate Vivendi sold its 13% stake in Beats Electronics to Apple for $404 million, according to a report from Bloomberg

See also: Apple Buying Beats? It Isn't About the Headphones

Vivendi had invested in Beats through one of its subsidiaries — Universal Music Group. Jimmy Iovine, who founded Beats with Dr. Dre, previously worked as an executive at Universal.

Apple confirmed on Thursday that it will cut nearly 30% of the workforce at Beats, primarily in roles already covered by Apple.

Beats had various investors including private equity investor Carlyle Group and musician Will.i.am Read more...

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