Apple Will Acquire Beats Electronics for $3 Billion

Wednesday, May 28th, 2014

The purchase of Beats Electronics by Apple has been confirmed. The tech giant will pay $3 billion for the audio equipment and streaming music company co-founded by Jimmy Iovine and Dr. Dre, who will move into as yet unspecified executive roles at Apple.

Apple CEO Tim Cook told USA Today:

“This is a big deal. But to put it in some perspective, we acquired 15 companies last year and 12 this year, some 27 in 18 months,” he says. “But this one is all about music, which we’ve always felt is in our veins and we’ve always appreciated that technology alone was not enough.”

It remains to be seen how Apple will integrate the Beats hardware line and streaming services into their existing products, but Cook promised some “exciting things in the near term”. The Apple Worldwide Developers Conference kicks off this coming Monday, so we may get some hints as early as next week.

Previously: Wall Street Baffled by Beats Deal, Apple Stock Down

Wall Street Baffled by Beats Deal, Apple Stock Down

Friday, May 9th, 2014

When the news broke yesterday that Apple was rumored to be in negotiations to purchase the Dr. Dre and Jimmy Iovine founded Beats Electronics, the big headline was the $3.2 billion price tag. While Beats is certainly an enormously valuable company, that’s an awful lot of money and it would be the priciest acquisition of a company by Apple in the company’s history.

While the Hip-Hop world is largely focused on the prospect of Dre becoming Rap’s first billionaire, Wall Street and Silicon Valley seem to be somewhat confused as to why Apple would be willing to sink so much capital into a business that they don’t really need. Apple is one of the most profitable companies in the world and they currently control the biggest digital music marketplace on the planet in iTunes.

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Eminem, Dr. Dre & Jimmy Iovine Cover XXL

Tuesday, February 18th, 2014

The Em, Dre, Iovine triumvirate grace the cover of XXL’s April issue. The cover story will look at the impending rise of Beats as a player in the digital music realm.

Previously: Kendrick Lamar & Eminem Cover ESPN The Magazine

Dr. Dre and Jimmy Iovine Talk USC Endowement

Thursday, May 16th, 2013

It was announced yesterday that Dr. Dre and Jimmy Iovine are gifting USC with a $70 million endowment to establish the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation. The program will begin accepting students in 2014 and will offer a curriculum built around the following areas of study: Arts and Entrepreneurship, Technology, Design and Marketability, Concept and Business Platforms and Creating a Prototype.

Ben Westhoff of LA Weekly scored a rare interview with Dre and Iovine and asked them about why they wanted to launch the program, what they hope to accomplish and more.

Where did the idea for this program originate?
Jimmy Iovine: Everything we do together comes out of my and Dre’s many conversations we have multiple times a week, probably every day, like, “Jimmy don’t you hate the way kids are listening to music on the radio?” [In this case] we decided we wanted to give back and do something because we’ve been very fortunate over the last 20 years and Dre has always wanted to give back. So I said to Dre, “Ok why don’t we do it together?” And we go to Beats and see that all these kids are so…so good at understanding technology and have a feel for the art, or the other way around. Then we look at Beats and say “Geez we need kids like that here!”

Dre says that now that the Beats brand is firing on all cylinders and the USC plan is in motion, he can finally get back to working on Detox. To which I respond with this facial expression. Iovine also somehow manages to assign Dre credit for Kendrick Lamar.

Read the full Q&A here.

Previously: Dr. Dre Interview w/ Power 106′s Big Boy’s Neighborhood (Audio) | Dr. Dre & Lebron’s ESPN Magazine Cover Shoot (Behind the Scenes)

Video: Steve Stoute Speaks to Jay-Z, Pharrell & Jimmy Iovine

Thursday, September 8th, 2011

Steve Stoute speaks to some of his friends in the music business about the Tanning of America (the name of his new book out today) for Huffington Post.

Related: Rewriting the Rules: Steve Stoute’s Interview w/ Life+Times

Video: Timbaland Song Featured in Culo Trailer

Tuesday, August 2nd, 2011

Timbaland’s “Pass At Me”, which is the first single from his new album, features David Guetta and Pitbull and is being used in the trailer for the upcoming book from photographer Raphael Mazzucco entitled Culo. Produced by Timbaland and co-produced by David Guetta. GQ says Interscope chairman Jimmy Iovine also has a hand in the book.

Video: Rick Ross’ The Untouchable Maybach Empire Super Bowl Blog: Game Day

Monday, February 7th, 2011

Uh oh. The Cop and Diddy were escorted to Cowboy Stadium to watch the Super Bowl from Interscope’s Sky Box with Jimmy Iovine and Chris Brown. If they had anything of the wing variety, I feel sorry for Lyor Cohen and the rest of these guys. Then again, the CEO of Warner Brothers Records got him Mr. Chow‘s so it’s really a toss up.

Game on his Relationship with Dr. Dre & Status of The R.E.D. Album

Wednesday, January 26th, 2011

Complex called Game to ask him about the two Dr. Dre produced tracks on Purp & Patron and he said they were recorded as recently as July:

“Everything on that is new. [I recorded the songs with Dre] probably a couple months ago in late July. […] People think ‘You’re back in with Dre,’ but I’ve been in with Dre. I haven’t necessarily had him on an album, but I’ve been working with Dre on Detox for my entire career. The world doesn’t know ‘cause Detox hasn’t come out yet and I haven’t had anything from him on L.A.X. and Doctor’s Advocate because, you know the politics. But me and Dre been talking and chilling since the beginning. Documentary came out and I went my own way, did what I had to do to take care of my family, but it ain’t like he didn’t call me or I ain’t check on him.”

Game also spoke on what’s missing on The R.E.D. Album (a single, obviously) and his recent meeting with Jimmy Iovine, after the jump.

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Video: Dr. Dre & Timbaland Surprise High School Grads

Thursday, June 24th, 2010

Dre and Timbo did a surprise pop up at the Culver City High School Graduation party. I don’t know if “Promiscuous Girl” is an appropriate song to perform for a bunch of horny teenagers, but maybe that’s just me turning into the lame parent I vowed I’d never be.

PICS: Lewis Hamilton x Jimmy Iovine x Pharrell x Dr. Dre in Monaco

Tuesday, May 18th, 2010

lewis-hamilton-jimmy-iovine-pharrell-williams-dr-dre

Maybe they tried to sell him some headphones? Pharrell’s still in Monaco to attend the WMAs and had dinner the two big wigs from his record label, as the VIBE’s Producer bracket dwindles down. He also brought along his Formula 1 race driver friend Lewis Hamilton.

After the jump, one of Pharrell’s friend bought out the bar at the Grand Prix after party and had them bring over every bottle of Cristal they had. My guess: it was probably this guy.

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