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Jimmy Iovine calls predictions of his departure 'fake news'

11 January 2018

The reports emerged earlier this month, but in an appearance at a promotional event for HBO documentary "The Defiant Ones" Iovine slapped them down with some vigour, according to Variety. The executive said he is committed to doing whatever Eddy Cue, Tim Cook and Apple need him to do to take the service all the way.

Variety is reporting that longtime friends and business partners Jimmy Iovine and Dr. Dre could earn themselves a hefty payout later this year when their Apple stock vests. It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard.

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".

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Iovine joined Apple in 2014 after selling Beats Electronic, an initiative he co-founded with Dr Dre, to Apple for $3 billion.

About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. On this matter, Iovine said he thought different. His stock answer, when asked what will happen when that contract is up in August, has been a version of "I have no idea what I'll be doing then".

If Iovine exits Apple, they could risk losing one of the driving forces of their continued success in the music field. That's why those articles annoyed me, because it had nothing to do with reality. He'll likely come up with more projects while he's still around in an effort to grow the service's 30 million user number to something closer to Spotify's 70 million. He noted that "right now, I'm committed to getting streaming right".

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There, he shut down all the reports that he would be leaving the company and made it very clear that he is loyal to Apple and would not be departing.

The music mogul shot down rumors of exiting Apple Music in an exclusive report dropped by Variety.

"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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Jimmy Iovine calls predictions of his departure 'fake news'