A leading daily says the deal could be announced as early as next week. The newspaper cited people familiar with the negotiations. Thursday's report warns there is a still a chance the talks could collapse.
Both Apple Inc and Beats Electronics declined to comment to The Associated Press.
If the deal is completed, it would be by far the largest acquisition in Apple Inc's 38-year history.
The acquisition would add Beats Electronics' popular line of headphones and music streaming service to an Apple line-up that already includes iPods and the iTunes store, the world's top music retailer.