When Apple acquired Beats Music for $3 billion last May, it instantly became the company’s most expensive purchase ever. While the dollar amount involved in the deal might have raised some eyebrows, the acquisition target certainly did not.
With streaming music sites like Pandora and Spotify still gaining in popularity, Apple’s need to get into the streaming music business abundantly clear. And given the tepid product that was iTunes Radio, Apple arguably had no other choice but to go big and bring on an established music-brand if it ever wanted to truly compete with the likes of Spotify.
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