<http://schema.org/articleBody>
"It's official: Apple has acquired Beats. \nThe deal, which had been agreed to in May, had been an ongoing operation but not yet officially closed. \nSee also: Apple Buying Beats? It Isn't About the Headphones\n\"Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. Music has always held a special place in our hearts, and we\u2019re thrilled to join forces with a group of people who love it as much as we do,\" the company wrote on a special page welcoming the company. \"Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We\u2019re delighted to be working with the team to elevate that experience even further. And we can\u2019t wait to hear what\u2019s next.\"\nThe welcome coincides with the news that French media conglomerate Vivendi sold its 13% stake in Beats Electronics to Apple for $404 million, according to a report from Bloomberg. \nVivendi had invested in Beats through one of its subsidiaries \u2014 Universal Music Group. Jimmy Iovine, who founded Beats with Dr. Dre, previously worked as an executive at Universal.\nWhile the acquisition might be official, not everyone from Beats will remain with Apple. The iPhone maker confirmed on Thursday that it will cut nearly 30% of the workforce at Beats, primarily in roles already covered by Apple.\nBeats had various investors including private equity investor Carlyle Group and musician Will.i.am. \nApple bought Beats in late May for $3 billion, the combined price of the company's streaming music and hardware operations. \nThe Vivendi sale values Beats at $3.1 billion, about $100 million more than the initial price tag on the deal. \nHave something to add to this story? Share it in the comments."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2014/08/01/apple-beats-vivendi/>