09/05/2014 04:54 BST | Updated 09/05/2014 07:59 BST

Apple In Talks To Buy Beats For $3 Billion, Deal Next Week?

UPDATE: Dr Dre appears to have confirmed the news on Facebook.

Apple is reportedly 'in talks' to buy Beats Electronics - makers of the virtually ubiquitous giant, bass-heavy headphones.

According to various media reports, Apple could be about to pay more than $3.2 billion -- it's biggest ever acquisition.

The deal could be announced as soon as next week.

Beats is best known for its chunky headphones, but it also runs a subscription-based music service which could also be of interest to Apple -- if not for the technology, at least for the leverage or deals with record labels.

The Financial Times was the first to report the potential deal, and said the companies are still deep in negotiations.

If the deal goes through it would represent a huge increase in the valuation of Beats, which received $500 million in investment capital last year on a valuation of just $1 billion.

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