Will Dr. Dre Be Hip-Hop's First Billionaire?

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Peter Chou, Dr. Dre and Jimmy Iovine announce the strategic partnership of HTC and Beats by Dr. Dre on August 10, 2011 in Los Angeles, California.
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In the business world, rumors are circulating that Apple is poised to make a big, multi-billion dollar acquisition. Though it is hard to penetrate the opaque business of Apple, there may be a crack starting to show.

According to reports, Apple is in talks to buy Beats Electronics LLC, the headphone and streaming music company owned by music legend Dr. Dre. The deal could make Dr. Dre the first billionaire in hip-hop—Apple is supposedly looking to purchase the company for an estimated $3.2 billion.

Dan Charnas, author of the book "The Big Payback: The History of the Business of Hip-Hop," explains what this deal could do for Apple, and for Beats Electronics.

*Editor's Note: In the introduction of this audio interview, Dr. Dre's company is incorrectly referenced as Beast Music LLC. The company is Beats Electronics LLC.