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."
Original post: Apple is reportedly shutting down Beats Music just three months after picking the company up. According to TechCrunch, that means that the deal was "mostly about getting Jimmy Iovine and Dr. Dre's talent on board." That's right: $3 billion is the going rate for two executives.