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By mannt8
via arstechnica.com
Submitted: May 09 2014 / 01:12

According to a Financial Times report (subscription required), Apple is set to announce its acquisition of headphone manufacturer Beats Electronics for $3.2 billion "as early as next week." The company, currently the American leader in headphone sales, was founded in 2008 by Interscope Records chairman Jimmy Iovine and hip-hop legend Dr. Dre, and it expanded this year with a subscription-based online music service, called Beats Music, that currently competes with Apple's own iTunes Radio offering.
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