Jimmy Iovine denies that he's leaving Apple

Jimmy Iovine denies that he's leaving Apple

Ross Houston
January 12, 2018

The music mogul took the stage at the Grammy Museum for a screening of the HBO documentary The Defiant Ones, where he answered some questions from audience members.

Reports surfaced last week that Apple (NASDAQ:AAPL) could be losing its Apple Music chief, Jimmy Iovine.

In a new interview Iovine clearly stated that "We need Donald Trump here to call it 'fake news' because the vast majority of his company stock vested a long time ago, so even the reasoning behind the Billboard story was wrong. I am in the band".

Recent reports have suggested that Iovine would be leaving Apple in August 2018 after his contract ends.

Jimmy Iovine says he actually doesn't plan to leave Apple in August.

"The bottom line is I'm loyal to the guys at Apple", said Iovine. Not convinced by the prediction he told Billboard, "There's just a problem here that needs some sort of solution, and I want to contribute to it", he continues to say. "I have a deal, and certain things happen along that deal", he continued in the Variety story.

Iovine joined Apple in 2014, when the company bought Beats headphone for $3 billion, and he has worked since to develop Apple Music into a competitive music streaming service with Apple CEO Tim Cook and Eddy Cue, senior vice president of services. "I love Apple, and I really love musicians. It made it out to be all about money", he said.

The music executive also hinted that more original content could be coming to the music streaming service.

Last month, Apple purchased the Shazam music app for a reported $400 million, and analysts are speculating that it may now have a Netflix purchase in its sights.

"It will make music better, it will make it sound better, and improve access and delivery, but I'm not sure that benefits the labels unless the labels do something to make the proposition more interesting", he said.

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