Back in May Apple cut a $3 billion deal to acquire Beats by Dre and hired Dr. Dre and Jimmy Iovine as creative directors. Insiders are claiming Apple may have grown to regret the decision.
According to Tech Crunch,
Apple will discontinue the streaming music service Beats Music it acquired in May, according to five sources, including several prominent employees at Apple and Beats. Many engineers from Beats Music have already been moved off the product and onto other projects at Apple, including iTunes. It’s not clear when exactly Jimmy Iovine and Dr Dre’s music service will be shut down or what Apple will do with streaming, but every source with knowledge of the situation that we talked to agreed Apple plans to sunset the Beats Music brand.
Apple denies the reports.
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