Universal Music Group has confirmed that it received a US$409 windfall from Apple’s acquisition of Beats.



Universal, through parent Vivendi, owned a 13% stake in the Beats empire built by Dr Dre and Jimmy Iovine.



Apple's deal to buy Beats - including the Beats By Dre headphone brand and its Beats Music streaming service - for $3 billion was cleared earlier this month.



Music Week noticed the confirmation of Universal Music Group's windfall buried in the latest Vivendi financial results ...