The rapper, music producer and cofounder of Beats By Dre–which Apple bought in 2014 for $3 billion–is selling a lucrative collection of music income streams and other assets in a $200 million-plus deal, according to multiple reports.
The assets, which generate nearly $10 million annually, are being acquired by Shamrock Holdings and Universal Music Group in two separate transactions. The deals were shopped by Dre’s longtime attorney Peter Paterno. The news was first reported by Billboard and confirmed by Variety.
A source close to Dre told Variety that the final sale price is likely to be below the $250 million asking price, but well above $200 million.
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Best guide to hip hop, soul, reggae concerts & events in San Francisco Bay Area, Los Angeles & New York City + music, videos, radio and more
Nas
Wednesday, Nov 5 @ Bill Graham Civic Auditorium, SF
Raekown & Mobb Deep
Saturday, Nov 15 @ UC Theatre, Berkeley
How the Grouch Stole Christmas
Friday, Dec 5 @ UC Theatre, Berkeley
Atmosphere
Friday, Feb 13 @ Fox Theater, Oakland
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