Published: Fri, January 05, 2018
Hi-Tech | By Cory Rios

Jimmy Iovine Leaving Apple In August

Jimmy Iovine Leaving Apple In August

The record producer was hired by Apple in 2014 to help mould its streaming service.

According to Hits Daily Double, Billboard and Bloomberg, Apple Music chief Jimmy Iovine is already preparing for his exit sometime in August after he gets his final payout from Cupertino's $3 billion Beats purchase.

The acquisition of Beats is still the largest in the company's long and storied history. Billboard reported that his departure from the company coincides with his shares in Apple fully vesting.

Iovine co-founded Interscope Records and was chairman of Interscope Geffen A&M. Iovine is unlikely to stay in the company even if he receives a new offer as his vision sometimes differs with other executives at the company including Eddy Cue, notes MacRumors. "We have a lot of plans". Cupertino's streaming service gained 30 million subscribers under Iovine, and he was responsible for the video series Planet of the Apps and Carpool Karaoke.

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What is the future for Apple Music? The two then sold the entirety of the company to Apple.

Iovine and Dre moved into the consumer electronics space with Beats by Dre headphones in 2008.

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