Acquisition negotiations between Apple and Beats

Beats CEO Jimmy Iowen

SAN FRANCISCO, May 9 afternoon noon, according to "The New York Post" reported that informed sources, the music industry veteran Beats Electronics CEO Jimmy Iovine (Jimmy Iovine) is joining Apple (587.99, -1.05, - 0.18%), he may serve as a "special advisor" to Apple to provide creative advice to Tim Cook.

Iowin co-founded Beats with American rapper Dr. Dre, owner of Universal Music's Interscope, Geffen and A & M, both of which are owned by Lady Gaga and Eminem. Iowa and Universal Music contract will expire at the end of 2014.

The New York Post also confirmed that Apple is indeed in talks with Beats to acquire the headset for 3.2 billion acquisition of the price and streaming music company.

Universal Music will also benefit if the deal completes smoothly as there is news that the company holds about $ 400 million in Beats shares.

The acquisition negotiations between Apple and Beats have drawn much attention, and the deal is expected to boost the overall value of the music assets and will benefit Spotify, which may be in the IPO this fall.

Iowa spokesman has not commented, Apple declined to respond. (Book Yu)