Apple is in talks to buy Beats Electronics, the music powerhouse encompassing audio equipment line Beats By Dre and recently launched streaming service Beats Music.

While the financial details are still being worked out, the $3.2 billion acquisition would be Apple's largest to date. The company's execs, like Beats Music CEO Ian Rogers, would report to Tim Cook.

Beats, which was co-founded by Dr. Dre and producer Jimmy Iovine, could amp up Apple's role in the streaming sphere—and its electronics line could appeal to the tech giant's "desire to stay hip", as Spin suggests. The deal could be announced as early as next week.