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Just a couple hours after the Financial Times reported that Apple was in talks to acquire Beats Electronics, the New York Post is reporting that Beats CEO Jimmy Iovine is in talks to join Apple as a "special adviser" to Tim Cook on creative matters.
Beats Electronics boss and veteran music industry executive Jimmy Iovine is in talks to join Apple as a “special adviser” to Tim Cook on creative matters, two sources close to talks tell The Post.
Iovine is also the chairman of Universal Music Group's Interscope Geffen A&M music labels, though his contract is set to expire at the end of 2014. However, it's not clear if this is part of the potential purchase of Beats Electronics or separate from that deal.
Iovine has strong contacts in the music industry, allowing Apple to potentially leverage him for potential future negotiations with music labels. This would make him a strong addition even if Apple doesn't purchase Beats.
If Iovine does join Apple, Iovine would be the second high profile executive to join the company after former Burberry CEO Angela Ahrendts. The Beats CEO also has a history with Apple, having pitched Steve Jobs on a subscription music service and meeting with Apple executives about Beats Music before it launched.
Top Rated Comments
It's pretty obvious. Beats must have negotiated a stellar subscription music deal with the record labels (possibly thanks to this dude's contacts in the industry). Apple wants to quickly jump on that ship, so they're snapping up the deals Beats has already signed.
APPLE IS NOT BUYING BEATS FOR ITS HEADPHONES.
APPLE IS NOT BUYING BEATS FOR ITS HEADPHONES.
APPLE IS NOT BUYING BEATS FOR ITS HEADPHONES.
APPLE IS NOT BUYING BEATS FOR ITS HEADPHONES.
Apple needs a Spotify-killer and Beats has a deal with record labels that Apple evidently wants.
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Haven't you heard? They're hiring a bunch of medical-types for the iWatch. Dr. Dre would be perfect :)