Apple eyes purchase of Beats Electronics

Apple Inc. is close to striking a deal with Dr. Dre. The iPhone maker is in advanced talks to acquire headphone maker and music- streaming service Beats Electronics LLC for $ 3.2 billion, sources said. A deal for the Santa Monica, Calif.- based company, which was founded by music- industry executive Jimmy Iovine and hip- hop artist Dr. Dre, would bolster Apple’s online music capabilities by giving it ownership of the Beats Music service that started earlier this year. For $ 10 a month, subscribers get unlimited access to all of the songs in the service’s catalogue through a smartphone, tablet or Web browser.