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Apple to Acquire Beats Electronics for $3.2 Billion

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UPDATE: TMZ

Dr. Dre better stop counting his chickens before they hatch — calling himself the “first billionaire in hip hop” — a rep for Forbes tells TMZ, once the $3.2 Billion Apple deal is finalized … the rap mogul will NOT hit the billion dollar mark.

Forbes Assistant Managing Editor for Wealth tells us …  they've done the math, and after state and federal taxes … Dre will be worth in the neighborhood of $800 million.

It appears Dre only owns 25% of the company … so the max he'd make off the sale is $800 MIL.   After state and federal taxes, he's left with $480 MIL, and when you add in Dre's other assets, that's how Forbes now comes up with $800 MIL.  Close but no cigar.


The editor says, “Not quite enough to debut on the Forbes 400 but plenty for bragging rights.”

 

Financial Times is reporting that Apple is poised to make its largest acquisition ever with a planned $3.2 billion USD being forked over to purchase Beats Electronics. According to insiders, Apple will acquire Beats’ streaming music service, which launched this year, and its audio equipment business, which includes its brand of headphones and audio equipment. This proves to be a shocking announcement – both for the price tag as in the past the company was valued at $1 billion after Beats took a $500 million dollar investment from Carlyle in September 2013 – and for Tim Cook’s plan for a high-profile acquisition that differs from that of the late Steve Jobs. According to CNBC, “Apple executives have admitted that its brand is in need of a revamp. Internal emails released during its recent patent trial with Samsung showed that its marketing chief Phil Schiller considered changing Apple’s ad agency after the success of its Korean rival’s ‘next big thing’ campaign.” While it’s still a rumor at this point, there’s no denying that this would be a major shakeup.

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First Look at the Magical World of ‘Wicked’ Starring Ariana Grande and Cynthia Erivo (Trailer)

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The new trailer for the upcoming movie musical ‘Wicked’ has finally dropped, leaving fans buzzing with excitement. The film, which stars Ariana Grande as Glinda and Cynthia Erivo as Elphaba, is set to be released in two parts.

The trailer opens with a stunning shot of the Emerald City, the iconic location from the original ‘Wizard of Oz’ story. We then see a young Elphaba arriving at Shiz University, where she meets Glinda for the first time. The two characters couldn’t be more different – Elphaba is a shy, green-skinned girl whom her peers often ostracize, while Glinda is a bubbly, popular blonde who seems to have everything she could ever want.

As the trailer progresses, we see glimpses of the musical numbers that have made ‘Wicked’ such a beloved show on Broadway. The production design features vibrant colors and intricate costumes that bring the world of Oz to life.

The pairing of Ariana Grande and Cynthia Erivo, both vocal powerhouses, is beautiful and will yield beautiful musical numbers. In an interview with Jimmy Fallon, Erivo mentioned that she and Grande were surprised at how well their voices complemented each other.

The trailer also gives us a glimpse of the other characters in the film, including Jonathan Bailey as Fiyero, Michelle Yeoh as Madame Morrible, and Jeff Goldblum as the Wizard of Oz.

‘Wicked’ part one is set to premiere later this year, with the second installment scheduled for November 2025.

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Ariana Grande – 34+35 (Remix) feat. Doja Cat & Megan Thee Stallion

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Ariana Grande, Megan Thee Stallion, and Doja Cat have teamed up for a new remix of Grande’s Positions track 34+35.

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Film & Television

Why Did Michaela Coel Walk Away From a $1 Million Dollar Deal with Netflix?

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Michaela Coel, the star of HBO’s hit series I May Destroy You had to decline Netflix’s $1 million offer after the streaming giant refused to allow her to retain “at least 5 percent of her rights” for the show.

Coel’s success in the U.S. is largely credited to Netflix. The streamer was the U.S. distributor of Coel’s acclaimed comedy series Chewing Gum. Netflix also housed a feature musical titled Been So Long in which Coel was the lead, as well as the drama series Black Earth Rising. Coel also starred in an Emmy-winning episode of Black Mirror, also distributed by Netflix. So, naturally, Coel’s history with the streaming platform made it the premier destination for her new project. After a short negotiation with a Netflix executive, however, Coel had to find a different home for I May Destroy You in order to maintain ownership of the series.

According to Vulture, Coel recalled that Netflix made her a $1 million offer for I May Destroy You in spring 2017 but she turned it down. Why? The streamer wouldn’t allow her to retain any percentage of the copyright. Coel even discontinued her relationship with CAA after it “tried to push her to take the deal”.

I May Destry You is based on Coel’s personal experience of being sexually assaulted during the making of Chewing Gum. At the age of 32, Coel is in full creative control of the series as its showrunner, director, star, and writer. She wrote all 12 episodes and co-directed nine, stars as a young writer Arabella struggling to come to terms and process a recent assault.

The series is now streaming on HBO.

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