Thursday, May 29, 2014

Jimmy Iovine Steps Down As Interscope CEO

Following the sale of Beats to Apple Wednesday (May 28), Jimmy Iovine announced shortly after that he has stepped down as Chairman and CEO of Interscope Records, reports Billboard.
John Janick has been tapped to replace Iovine, and has been named chairman and CEO of Interscope Geffen A&M, while Iovine leaves to become an Apple executive.
"John Janick has exactly what it takes to lead Interscope Geffen A&M," Iovine said in a statement.. "He started his own label. He understands the art of making records and the unique dynamic between a record label and artist, as well as the enormous responsibility that comes with representing one of the greatest artist rosters ever assembled."
Janick launched his Fueled By Ramen imprint in 1996 and has worked in the Universal Music Group system, which includes Interscope Geffen A&M, since 2012. He has also been groomed by Iovine for the role.
Beats Music and Beats Electronics was acquired by Apple this week for $3 billion.
Both Iovine and co-founder Dr. Dre join the tech giant as executives.

Jay Z Splits With Longtime Manager John Meneilly

According to the New York Daily News, the hip-hop mogul made the decision to end their relationship, not Meneilly. However, other sources said the split was finalized months ago and it was mutual. Neither party has commented on the report. "Not much is known about John Meneilly, though he's been one of Jay-Z's most trusted managers and business advisors for years now, brokering all kinds of power moves in the upper echelon of the Roc Nation world Read more:

Wednesday, May 28, 2014

WOW!! It’s official: Apple to buy Beats Electronics for $3 billion

Apple Inc. will officially pay $3 billion to buy Beats Electronics, the headphone and music-streaming service founded by West Coast rapper Dr. Dre and music executive Jimmy Iovine, Re/code reported. The price comes in $200 million lower than the number initially reported on May 8. Beats gives Cupertino-based Apple a head start in product development and brings “incredible people, kindred spirits” into Apple’s fold, Re/code quoted Apple CEO Tim Cook as saying.

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