Business Buzz: Apple Inc, ‘Beats’ In Talks For Music Streaming Service

Maker of popular the “Dr. Dre headphones” looking at Apple partnership

Apple Inc and Beats Electronics LLC, the technology firm co-founded by hip-hop producer Dr. Dre and music mogul Jimmy Iovine, may soon partner on Beats’ planned music streaming service, Reuters reports. Apple Chief Executive Tim Cook met with Iovine in late February to talk about “Project Daisy,” a music subscription service the company announced in January. Although Apple and Beats have decline to official comment on the meeting, Apple has been widely reported to consider a music-streaming service to complement iTunes, already the largest digital music store on the planet. That could mean big things for artists and acts under the Interscope-Geffen-A&M label, for which Iovine is a company chairman. On Tuesday, a Beats spokesman said the company had already secured $60 million in funding from investors for “Project Daisy.” That infusion of cash that will bankroll the music service’s launch later this year. (Reuters)

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