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, who is the co-creator of Beats with partner Dr. Dre, is also chairman of Universal Music Group’s Interscope, Geffen and A&M labels, home to Lady Gaga and Eminem, among others
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Apple is in talks to acquire Beats — which produces headphones and houses a streaming music service — for $3.2 billion, The Post confirmed.
Iovine’s contract with UMG runs until the end of 2014. If Iovine goes to Apple, he’d join the likes of Angela Ahrendts, the former Burberry executive who signed on at the Cupertino, Calif., company a month ago to run its retail division.
If the sale of Beats Electronics is concluded, it will wind up benefiting UMG, which has a stake in Beats said to be worth around $400 million.
Len Blavatnik’s Access Industries also has a small stake in Beats.
The talks with Apple could have many ramifications. They could increase the value of music content assets and could be beneficial for those trying to value Spotify ahead of its public offering, expected in fall.
The Financial Times first reported news of talks between Apple and Beats Electronics.
A spokeswoman for Iovine’s Beats Music wasn’t immediately reachable for comment.
Apple declined comment.