UPDATE 6:30pm: Apple has denied TechCrunch's claims that Beats Music is being shut down, saying the report "is not true." Re/code further refuted TechCrunch's story, writing: "Apple won't shutter the streaming service. It may, however, modify it over time, and one of those changes could involved changing the Beats Music brand."

You hardly ever get acquisition updates from World Star Hip Hop, but the blog just posted this video of Dr. Dre and Tyrese confirming Apple's $3.2 billion deal with Beats over some Heinekens.

Former rapper turned headphone mogul Andre Young and longtime business partner Jimmy Iovine just gave USC a $70 million donation. New library? Field hockey sticks? Way better! The duo are creating an undergrad degree program that tosses together nearly every Silicon Valley buzzword, simultaneously.