Dr Dre becomes a Billionaire as Apple acquire Dre Beats at $3B.

Rap is coming to Cupertino in a big way. After weeks of rumor, Apple finally announced it has acquired headphone maker Beats Electronic
for $3 billion, including $2.6 billion cash up
front and approximately $400 million in stock
that will vest over time. As part of the deal, Beats
co-founders Dr. Dre and Jimmy Iovine will join Apple in undisclosed roles. “Music is such an important part of all of our
lives and holds a special place within our hearts
at Apple,” CEO Tim Cook said in a statement.
“That’s why we have kept investing in music and
are bringing together these extraordinary teams
so we can continue to create the most innovative music products and services in the world.” This acquisition is Apple’s biggest ever, and
largest since it brought back Steve Jobs in 1997 though a $400 million purchase of NeXT.
However, the $3 billion price is still just a tiny
fraction of the company’s $150 billion cash
reserves, and Beats’ estimated annual sales of $2
billion represents barely over 1% of Apple’s $171
billion revenue last year. “I’ve always known in my heart that Beats
belonged with Apple,” Iovine said. “The idea
when we started the company was inspired by
Apple’s unmatched ability to marry culture and
technology. Apple’s deep commitment to music
fans, artists, songwriters and the music industry is something special.” The $3 billion purchase price includes Beats
Music, the sister company that runs a
subscription streaming music service. In fact,
Apple’s press release mentioned that before the
more well-known headphone business. While
some analysts have wondered why Apple doesn’t simply build its own streaming service within
iTunes, Cook must believe this deal gives him a
quicker way to catch up with Spotify and others. “The addition of Beats will make our music
lineup even better, from free streaming with
iTunes Radio to a world-class subscription
service in Beats, and of course buying music
from the iTunes Store as customers have loved
to do for years,” Apple Senior Vice President Eddy Cue said. Apple shares fell slightly on Wednesday in
trading before the announcement, but remain
up over 17% since April 23rd. Shares have
crested $624, the highest mark Apple has traded at since October 2012.

UNIZIK FOSSA SENATE TO IMPEACH FACULTY PRESIDENT

The Senate of the Faculty of Social sciences, Unizik, Last Friday moved a motion for the suspension of the faculty president Comrade Nnabueze alongside some other executives. The senate president moved the motion which was supported by all the senators present. According to anonymous sources, the senate was embittered by the failure of the faculty president and some of the excos affected to live up to the expectations of his campaign promises.
Listed as motives for the suspension included the failure of the president to release the take off grant which was due to the senate.
His inability to plan and execute FOSSA induction which had long been approved by the senate and staff adviser.
The president is expected to appear before the senate this Friday to answer to the charges against him.
According to reliable sources, the sitting on Friday is going to be a rail road for the president. As the senate have already decided to suspend him indefinitely no matter the explanation he gives for his action. The senate unanimously agreed to keep their deliberations on the matter a secret. As a strict warning was dished out that no one should disclose the matter with anybody not even the senators who were absent.
Fortunately, top secrets can't be hidden from the Campus Spy as the eagle eyes are always watching you.

Unizik Battle of the Wise: Proffesors fight over VC position

Prof. Gregory Nwakoby Threatened Legal Action
Over What He Described As Controversial VC
Selection Process The last has not been heard of the race for the
Vice Chancellor of Nnamdi Azikiwe University,
Awka, as a new twist emerged alleging that a top
shot in the presidency had at the last minute
summoned the Chairman of the governing council
of the university, Air Vice Marshal Larry Koinyan to the villa, where the result of the selection
process was upturned to favour Prof Joe Ahaneku. An aggrieved candidate, Prof Greg Nwakoby, who
was earlier announced as the winner of the Vice
Chancellorship position by radio and television
announcement, while briefing the press on
Tuesday in Awka stated that he had beat all the
eight candidates shortlisted for the race, and wondered why he was removed. Nwakoby, who is deputy Vice Chancellor
Administration and a Professor of law in the
University, said that he is very qualified for the
position of the Vice Chancellor of the institution,
and that he was not surprised that out of the 34
persons that indicated interest for the job, he was among the nine shortlisted for the position. He spoke further that the whole process has ab-
initio been teleguided by an unseen hand, leading
to his loss of trust in both the shortlist committee
and the governing council. He stated that the selection process took two
parts, the first being the screening of certificates,
publications and academic qualifications, while the
second was interviews, and that he was sure he
performed creditably in all the sections and came
top on the list. An executive summary sheet for result generated
from the exercise which was handed to our
reporter by Nwakoby, stated that he garnered a
total vote of 89.65 percent to come top, and was
followed closely by Prof Ahaneku with 80.65
percent. According to Nwakoby, he had obtained the result
from the chairman of the council, Koinyan, who
also congratulated him after the interview session,
but quickly added that he should know that victory
comes with a cost and price, a statement he said
he never understood until later. After the interview which ended at about 5 am on
24th May, Nwakoby said they were told that the
council was going to meet to announce the result
officially, but they waited for several hours but the
meeting was called off by the chairman of the
council, who emerged and announced that he had been summoned by a presidency top official. “I followed him, asking what the problem was, he
told me he has been summoned in Abuja, but that
I should be rest assured that I had won the race. He handed me a copy of the result sheet and
congratulated me. He also added to me that I
should also know that victory comes with a cost
and price, but I did not understand what he
meant”, Nwakoby told journalists. He added further that on Monday, the chairman of
the shortlist committee, Bala Buhari called him to
tell him that other candidates who he beat were
already coming to them with cash, and that they
would remove his name if he refused to come and
see them. “They demanded for me to raise N30 million each
for the chairman and another member, Senator
Fidelis Okoro. I told them I didn’t have such
money, and that surely I won. Later we heard that
there was going to be voting again, even though
there was no tie, and they told me they were going to vote against me if I did not come to see them. “John Nwodo is supposed to be a member of the
governing council, but he has not been coming to
meetings, so it was in Abuja that they appointed
Ben Ndu as a replacement for John Nwodo, for the
sole purpose of voting against me. So my question is, if they want to go by voting,
why subject us to the selection process?” He
asked. Nwakoby queried what was special about Nnamdi
Azikiwe University that the presidency should
show open interest in installing the Vice
Chancellor. He added that other federal universities have had
their appointment of Vice Chancellors peacefully,
and that of Nnamdi Azikiwe University should not
be marred by pecuniary interest. He said he has served the university since 1995,
and has held several positions in the institution,
and is also a lawyer and professor of law, so he
was no push over, and will not let the decision to
install Ahaneku to prevail. “I am asking the President to dissolve this
governing council because they have enmeshed
themselves in corruption. I will fight this injustice
through legal means and ensure that this does not
stand”, he vowed. Reacting also, the acting chairman of the National
Youth Council of Nigeria (NYCN), Chibuzor
Ekwenye in a press briefing also called on the
governing council to rescind its decision to foist
Prof Ahaneku on the institution, saying that failure
to do so will mean attracting the wrath of the youths. “We are interested parties in the race, when a
matter concerns about 5 million youths, the
National Youth Council should be interested
because the fate of that number of youths is going
to be in the hand of the Vice Chancellor. “We are giving them 24 hours to reverse that
decision and announce Prof Nwakoby who won the
election through the approved selection process. Failure to do so, we will take to the street; call it
protest, call it demonstration, call it riot if you
wish, but that is what we will do”. Meanwhile, the management of the Nnamdi
Azikiwe University through its Public Relations
Officer, Dr Emma Ojukwu has called their bluff,
and has gone ahead to announce that the
institution has appointed a new VC. A statement released by Ojukwu reads, “After an
exhaustive process, the Governing Council of
Nnamdi Azikiwe University, Awka headed by Air
Vice Marshal Larry Koinyan (Rtd) has appointed a
Professor of Chemical Pathology and Fellow,
Academy of Science, Joseph Eberendu Ahaneku as the fifth Vice Chancellor of the University. “Professor Ahaneku takes over from Prof.
Boniface C. E. Egboka who will vacate office on
June 3, 2014. Until his appointment Prof. Ahaneku
had served under Prof. Egboka’s administration as
Deputy Vice-Chancellor (Academic) for four years. In a letter signed by the Chairman and Pro-
Chancellor AVM Larry Koinyan (Rtd) on behalf of
the Governing Council, Prof. Ahaneku will serve
for 5 years. A native of Mbaise in Imo State, Professor
Ahaneku has served the University for 24 years in
different capacities culminating in this most recent
appointment.