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Dr. Dre has secured a deal to sell his Beats Music business to Apple for $3 billion, making him the richest artist in hip-hop.
The co-founder, who launched the headphones and streaming service with friend Jimmy Lovine, will leave Interscope, which he founded, to work with Apple alongside his business partner.
According to NME.com, Dre said: "I've always known in my heart that Beats belonged with Apple.
"The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology.
"Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."
Dre could be set to become hip-hop's first billionaire after Apple announced they will buy the business for $2.6 billion, as well as spending $400 million "that will vest over time".
Talking about the deal, which has been rumoured for weeks, Apple's CEO Tim Cook said: "Music is such an important part of all of our lives and holds a special place within our hearts at Apple.
"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."
Beats earned Dre $200 million last year, making his total net worth about $550 million, but the new deal with boost his fortune and put him ahead of Puff Daddy, who was previously the richest artist in hip-hop with $700 million, according to Forbes magazine.
Dr Dre sells Beats for $3 billion
Dr. Dre has secured a deal to sell his Beats Music business to Apple for $3 billion, making him the richest artist in hip-hop.
The co-founder, who launched the headphones and streaming service with friend Jimmy Lovine, will leave Interscope, which he founded, to work with Apple alongside his business partner.
According to NME.com, Dre said: "I've always known in my heart that Beats belonged with Apple.
"The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology.
"Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."
Dre could be set to become hip-hop's first billionaire after Apple announced they will buy the business for $2.6 billion, as well as spending $400 million "that will vest over time".
Talking about the deal, which has been rumoured for weeks, Apple's CEO Tim Cook said: "Music is such an important part of all of our lives and holds a special place within our hearts at Apple.
"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."
Beats earned Dre $200 million last year, making his total net worth about $550 million, but the new deal with boost his fortune and put him ahead of Puff Daddy, who was previously the richest artist in hip-hop with $700 million, according to Forbes magazine.
Music News
Bon Jovi guitarist Richie Sambora has debuted a new song which he hopes will help drug addicts.
The 54-year-old musician has written the track, 'Lighthouse,' which he played at an event raising awareness about heroin and painkiller abuse in New Jersey, and proceeds from its sale will go towards a drug treatment facility which is planned for the region.
According to the Associated Press, Richie, who has battled drug addiction himself, had originally named the song 'Needles on the Shore', but decided to change it because he wanted to do something "optimistic" which would be a "beacon of light and hope" for people battling addiction.
He said: "Everyone needs that light when they're far off the shore." The song's lyrics include: "Those who matter don't judge/ When you're swimming with the tide in the wake of a flood."
During the gig, Richie spoke about his own past drug abuse after spending time in rehab and said: "I got first-hand experience. I never did heroin, but obviously I did other stuff."
The guitarist and father-of-one, who insists he is now drug-free, wanted to take part in the event because he admits he is "scared" about what his 16-year-old daughter Ava, with ex-wife Heather Locklear, could end up being involved in when she gets older.
He said: "We can't be scared silent. Together we can make a difference because this epidemic has to stop."
Meanwhile, Richie is taking a break from Bon Jovi, having cited "personal issues" in April 2013, and he insisted that drugs played no part in his decision to spend some time apart from the group.
He claims the band took on too much work and he plans to rejoin the band, although he has not decided when he will play with them again.
Richie Sambora writes song for addicts
Bon Jovi guitarist Richie Sambora has debuted a new song which he hopes will help drug addicts.
The 54-year-old musician has written the track, 'Lighthouse,' which he played at an event raising awareness about heroin and painkiller abuse in New Jersey, and proceeds from its sale will go towards a drug treatment facility which is planned for the region.
According to the Associated Press, Richie, who has battled drug addiction himself, had originally named the song 'Needles on the Shore', but decided to change it because he wanted to do something "optimistic" which would be a "beacon of light and hope" for people battling addiction.
He said: "Everyone needs that light when they're far off the shore." The song's lyrics include: "Those who matter don't judge/ When you're swimming with the tide in the wake of a flood."
During the gig, Richie spoke about his own past drug abuse after spending time in rehab and said: "I got first-hand experience. I never did heroin, but obviously I did other stuff."
The guitarist and father-of-one, who insists he is now drug-free, wanted to take part in the event because he admits he is "scared" about what his 16-year-old daughter Ava, with ex-wife Heather Locklear, could end up being involved in when she gets older.
He said: "We can't be scared silent. Together we can make a difference because this epidemic has to stop."
Meanwhile, Richie is taking a break from Bon Jovi, having cited "personal issues" in April 2013, and he insisted that drugs played no part in his decision to spend some time apart from the group.
He claims the band took on too much work and he plans to rejoin the band, although he has not decided when he will play with them again.
Music News
Lady Gaga has cancelled two shows after being struck down with bronchitis.
The 28-year-old singer was forced to pull out of a gig in Seattle last night (28.05.14) and has cancelled a further show in Vancouver on the American leg of her 'artRAVE Tour' due to the illness.
She took to Twitter today (29.05.14) to apologise to fans for the inconvenience, writing: "I'm devastated I'm unable to perform this week. Ursula took my mermaid voice. I've come down with horrible Bronchitis (sic)," making reference to the fictional sea witch from 'The Little Mermaid', who uses Ariel's voice to cast a spell in the popular Disney movie.
Gaga also insisted she would reschedule the cancelled shows so fans could see her live, posting: "My deepest apologies to Seattle and Vancouver, we'll reschedule those shows & be back to make it up to you. I <3 monsters. #sadgaga (sic)."
Fans were quick to wish her well and she posted: "Thanks for understanding," adding, "Im so sorry. I'm holding stuffies and wearing seashell bra. With tissues and wigs. (sic)"
Meanwhile, the star is set to head to the UK in October and has added a number of extra arena shows in Birmingham, Sheffield, Newcastle and Glasgow after a massive demand for tickets.
She has also added a third date at London's O2 Arena to her UK and Ireland tour schedule, after the first two nights sold out just minutes after tickets going on sale.
Lady Gaga cancels two shows due to illness
Lady Gaga has cancelled two shows after being struck down with bronchitis.
The 28-year-old singer was forced to pull out of a gig in Seattle last night (28.05.14) and has cancelled a further show in Vancouver on the American leg of her 'artRAVE Tour' due to the illness.
She took to Twitter today (29.05.14) to apologise to fans for the inconvenience, writing: "I'm devastated I'm unable to perform this week. Ursula took my mermaid voice. I've come down with horrible Bronchitis (sic)," making reference to the fictional sea witch from 'The Little Mermaid', who uses Ariel's voice to cast a spell in the popular Disney movie.
Gaga also insisted she would reschedule the cancelled shows so fans could see her live, posting: "My deepest apologies to Seattle and Vancouver, we'll reschedule those shows & be back to make it up to you. I <3 monsters. #sadgaga (sic)."
Fans were quick to wish her well and she posted: "Thanks for understanding," adding, "Im so sorry. I'm holding stuffies and wearing seashell bra. With tissues and wigs. (sic)"
Meanwhile, the star is set to head to the UK in October and has added a number of extra arena shows in Birmingham, Sheffield, Newcastle and Glasgow after a massive demand for tickets.
She has also added a third date at London's O2 Arena to her UK and Ireland tour schedule, after the first two nights sold out just minutes after tickets going on sale.