“The European Union’s antitrust authority has cleared Apple’s $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services,” The Associated Press reports.

“The 28-nation bloc’s executive Commission said Monday the transaction does not threaten competition because the firms’ combined European market share in both fields will be low while facing strong competitors,” AP reports. “The move to buy Beats, founded by rapper Dr. Dre and Jimmy Iovine, was widely seen as a bid to counter the increasing threat posed by music streaming services like Pandora and Spotify to Apple Inc.’s iTunes store.”

Brief article in full here.