Jimmy Iovine, who joined Apple in 2014 after they famously purchased his and Dre’s Beats Electronics company for $3 billion, is reportedly leaving Apple Music this August, sources tell Billboard.
Jimmy Iovine had a huge hand in helping the streaming service lift off two and a half years ago so this news is huge. The departure is said to be due to Iovine’s shares in Apple fully vesting. As you probably know, Jimmy co-founded Interscope Records and was the label’s CEO for a number of years. He also co-produced 8 Mile and executive produced 50 Cent’s Get Rich Or Die Tryin film. If the reports (initially made public by HDD) are true, chances are that he will either retire or hold another position in the music industry.
Apple declines to make a comment to Billboard. Stay tuned for updates.