Hand in hand with the Beats/ Apple deal, Jimmy Iovine has left Interscope Records with John Janick named as the new chairman and CEO.
The announcement was made to coincide with the finally confirmed news that Apple will indeed acquire Beats, the headphones and digital music streaming company Iovine founded with Dr. Dre in 2008. When that transaction closes after the summer, Iovine will join Apple.
“Since coming to UMG nearly two years ago, he has consistently shown why he is widely regarded as one of the most talented, innovative and entrepreneurial executives in the music business today and will be a key player in the future generation of industry leaders,” Lucian Grainge, Universal Music Group chairman and CEO, said in a statement. “John is the ideal executive to be writing the next chapter in IGA’s illustrious history.”
In case you’re wondering, John, who started his own successful indie label Fueled By Ramen in 1996, has had the benefit of working under Iovine for the past two years.
In a statement, Jimmy noted, “John Janick has exactly what it takes to lead Interscope Geffen A&M: 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.”
Hey, you know it’s real when you quit your day job. Congrats Jimmy!
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