Jimmy Iovine to Leave Apple Music in August: Billboard

Jimmy Iovine to Leave Apple Music in August: Billboard

151
Music producer Jimmy Iovine poses at LACMA's 50th anniversary gala in Los Angeles
Music producer Jimmy Iovine poses at LACMA's 50th anniversary gala in Los Angeles, California, April 18, 2015. REUTERS/Danny Moloshok

(Reuters)

Music mogul Jimmy Iovine is said to leave Apple Inc‘s music streaming service in August, the Billboard magazine reported on Thursday, citing unnamed sources and music industry website Hits Daily Double

Iovine is best known as the co-founder of Interscope Records, a rap music pioneer that branched out to include artists like Lady Gaga and U2.

 

 

Iovine’s departure is likely timed to his Apple shares fully vesting, according to the Billboard story, which followed an initial report in Hits Daily Double’s “rumor mill” section. (http://bit.ly/2E6gAGX)

The former Interscope CEO joined Apple in 2014 after the iPhone maker bought Beats Electronics, the audio technology firm co-founded by influential hip-hop producer Dr Dre and Iovine, for $3 billion.

Apple declined to comment.

The company told Billboard in September it had 30 million Apple Music subscribers.

 

(Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta)

 

SHARE
Previous articleOMG! Dog Guards Body of Dead Owner for Weeks over Christmas
Next article‘Window Closing’ for California Mudslide Searchers as Death Toll Rises to 18