Beats-Apple winners

REVENUE STREAM: Who benefits most from the pending Beats-Apple deal? Anyone with a sizable stake in the parent company, Beats Electronics. Jimmy Iovine, Dr. Dre and the Beats team will naturally enjoy a windfall. So will the stakeholders the Carlyle Group, which, having invested $500m, makes more than $1.1b outright on a seven-month investment. UMG’s Lucian Grainge looks particularly far-seeing for empowering Iovine to build value for the company (it stands to make in the neighborhood of $400-500m). WMG owner Len Blavatnik’s Access Industries consortium will realize a smaller gain, having invested $160m in Beats Music (not electronics). (5/14a)