Apple close to buying Dr. Dre's headphone company

Apple Inc. is close to paying $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear that would mark a departure for the usually cash-conservative iPhone maker, Fox Business Reports.

Beats Electronics, which was founded by rapper Dr. Dre and music producer Jimmy Iovine, is best known for its "Beats by Dr Dre" line of headphones.

While the deal could still fall through, both companies are said to be hashing out details of a potential deal.

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