clock menu more-arrow no yes

Apple's $3 Billion Beats Deal Clears European Union's Antitrust Review

Apple Inc.’s planned $3 billion acquisition of Beats Electronics and Beats Music cleared a regulatory hurdle: The European Union approved the merger, finding that the combination did not raise anti-competitive concerns. The regulatory body determined that, although Beats and Apple both sell headphones in Europe, their combined market share is low — and there are several large global competitors, including Bose and Sony. Similarly, Apple’s purchase of the Beats streaming music service doesn’t raise concerns, both because it is not currently available in Europe, and because it would face competition from rivals including Spotify and Deezer.

This article originally appeared on Recode.net.

Help us explore what’s working

Part of explaining the news is critically examining potential solutions to big problems. Will you support this work with a gift to Vox?