Both Dr. Dre and Jimmy lovine are likely to take senior positions at Apple following the acquisition of Beats, reports the WSJ. The acquisition has not yet been officially confirmed; however, a video that surfaced on Facebook appears to confirm the $3.2 billion deal.
As Apple completes a deal to buy headphone and streaming-service company Beats Electronics LLC from Mr. Iovine and his co-founder, rap star Dr. Dre, both men are likely to take senior positions with the Cupertino, Calif., tech company, according to people familiar with the matter, commuting from the Los Angeles area to Silicon Valley—or meetings elsewhere—as needed. Though the details of the men's potential Apple assignments remain unclear, the mere possibility underscores how Apple's corporate culture has loosened under the leadership of Mr. Jobs's successor, Chief Executive Tim Cook.
A source tells the WSJ that lovine will leave his post as chairman of Interscope Geffen A&M records, a division of Vivendi SA's Universal Music Group. though it isn't clear how soon he would depart. Universal owns 14% of Beats and would get about $500 million from the acquisition. They'd likely let lovine leave ahead of his contract expiration early next year.
It's believed that lovine could help Apple broker deals in the music industry and appeal to the younger demographic.
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As Apple completes a deal to buy headphone and streaming-service company Beats Electronics LLC from Mr. Iovine and his co-founder, rap star Dr. Dre, both men are likely to take senior positions with the Cupertino, Calif., tech company, according to people familiar with the matter, commuting from the Los Angeles area to Silicon Valley—or meetings elsewhere—as needed. Though the details of the men's potential Apple assignments remain unclear, the mere possibility underscores how Apple's corporate culture has loosened under the leadership of Mr. Jobs's successor, Chief Executive Tim Cook.
A source tells the WSJ that lovine will leave his post as chairman of Interscope Geffen A&M records, a division of Vivendi SA's Universal Music Group. though it isn't clear how soon he would depart. Universal owns 14% of Beats and would get about $500 million from the acquisition. They'd likely let lovine leave ahead of his contract expiration early next year.
It's believed that lovine could help Apple broker deals in the music industry and appeal to the younger demographic.
Please follow iClarified on Twitter, Facebook, or RSS for updates.
Read More