It’s official. Dr Dre is set to become the first billionaire in Hip Hop. Apple Electronics announced today that it has acquired Dr Dre’s Beats Electronics for $3billion. According to Forbes, Apple paid $2.6billion cash upfront and gave $400million in stock that will vest over time.
The $3billion purchase price includes Beats Music, the sister company that runs a subscription streaming music service. As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple in undisclosed roles.
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” CEO Tim Cook said in a statement released today. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”
This acquisition is Apple’s biggest and largest acquisition since the inception of the company. Apple made $171 billion revenue last year, while Beats made $2 billion.
The LA Clippers have been sold to former Microsoft CEO Steve Ballmer in a $2 billion deal after their previous owner Donald Sterling was given a NBA ban over racist remarks.
Ballmer, who retired from Microsoft in February, is said to have reached a binding agreement with Sterling’s wife, Shelly, who had been handling the sale of the team.
The sale comes just days before a NBA panel was due to meet to discuss revoking Sterling’s ownership over the team in light of the racism scandal last month.
The likely new owner, Ballmer, retired from Microsoft in February after 14 years as CEO, and has an estimated fortune of $20.3 billion, KCTV5 reported.
The Clippers have not yet confirmed the sale to Ballmer. The team had been bought by Sterling for $12.5 million in 1981.
Before the deal can be sealed, it has to be approved by the NBA – and Sterling, who had dithered over whether he would allow his wife to sell the team he has owned for more than 30 years.
Sterling’s attorney, Maxwell Blecher, told CNN: ‘The league on Tuesday has a guillotine over his head.’
He added that Sterling planned to challenge their right to remove his team over an illegally recorded conversation in which he allegedly made racist remarks.
‘He wants to be vindicated. He doesn’t want his tombstone to say, “Here lies Donald Sterling, racist”. And the NBA has the power to make that right,’ Blecher said.
Kim Kardashian’s wedding photo has become the most-liked Instagram in just two days.
The photo, which shows Kardashian and new husband Kanye West kissing in matching Givenchy at the ceremony in Florence, Italy, has received more than 1.9 million likes since it was posted May 27, passing the 1.8 million likes that Justin Bieber’s photo with Selena Gomez has garnered in the last five months.
Kardashian (who has added the last name “West” to herInstagram account) also posted a photo of the couple holding hands as they walked down the aisle, which has more than 1.5 million likes.
The Facebook-owned photo sharing app has become the go-to place for fans to catch a glimpse of the Memorial Day Weekend festivities. Wedding guests took to Instagram and Twitter to share moments from the reception, Givenchy creative director Riccardo Tisci posted a photo of the dress he designed for Kardashian and the couple chose the online platforms to share their first official wedding photos.
The performers lined up for the MTV Africa Music Awards (MAMA) 2014 just got even hotter with the addition of African artists and nominees Diamond, Wizkid, Phyno and Yuri da Cunha.
These artistes will join previously announced performers French Montana, Miguel, Trey Songz, Davido, Uhuru, Mafikizolo, Oskido, Professor, Tiwa Savage and Flavour at the stunning pan-African celebration of music, youth culture and lifestyle.
Legendary stand-up comic, film and television sensation Marlon Wayans is to host MAMA 2014, which goes live from the ICC, Durban at 22:00 CAT, Saturday 7 June, broadcasting around the world on MTV, MTV Base, BET International and affiliate stations.
With hundreds of thousands of votes already cast, public voting for 2014 MTV Africa Music Awards continues online atwww.mtvbase.com until midnight on 4 June 2014. The winners of the MTV Base Leadership Award and Best Video are chosen exclusively by MTV Base. Voting for Song of the Year continues up until the show on 7 June.
Celebrating musicians and achievers who have made the most impact on African youth culture throughout the year,MAMA 2014 will, for the first time ever, premiere LIVE across Africa on MTV Base (DStv Channel 322) and MTV(DStv Channel 130) at 21:00 CAT.
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Nwokolo Cynthia Amara Emerged the title of MBFN South East Queen at the just concluded Most Beautiful Face In Nigeria 2014 that was held in Uyo. The computer science student of Nnamdi Azikiwe University who’s hobbies are Lawn tennis and traveling says she loves kids a lot which was the reason for celebrating with them on their special day. MBFN 2014 was held may 24th in Uyo and already she has began her social responsibilities of giving back to the society. Good luck to her.
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Just like we guessed, Beyonce was nowhere to be found at Kim and Kanye’s wedding on Saturday, May 25, 2014.
And as earlier reported, Jay Z was expected to attend the wedding but headed alongside with his wife, Beyonce, to Hamptons instead.
However, they were said to have sent in their best wishes for the bride and groom.
It would be recalled that rumours went out that Queen Bey won’t be attending the wedding because she and Kim aren’t so close. We even learnt she turned down Kim’s offer to be best her.