NEW YORK, NY - OCTOBER 09: Dr. Dre (L) and Interscope Geffen A&M Chairman Jimmy Iovine attend the 'CULO By Mazzucco' Launch at the Tony Shafrazi Gallery on October 9, 2011 in New York City. (Photo by Neilson Barnard/Getty Images)
Apple made a major play this week, purchasing Beats Electronics for nearly $3 billion.

The tech company confirmed the news to the “New York Times,” beefing up their subscription-based music efforts while also bringing on the Beats premium headphones.

Following the purchase for $2.6 million and $400 million in stock, Beats will continue to be run by Dr. Dre and Jimmy Iovine (“American Idol”) under Apple’s Internet services division.

Apple’s chief executive, Timothy D. Cook, tells the “Times” the duo will work side-by-side with the company for their next products.

“They’re going to be coming up with ways of features that blow your mind and products you haven’t thought of yet, and seeing around the next corner to articulate the way to take music to an even higher level than it is now,” Cook told the “NY Times.”

The deal will likely be approved later in 2014. What do you think of Apple purchasing Beats? Share your thoughts in the comments!

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