IB on Beats deal

MIDAS OF MUSIC BIZ: Beats Electronics creators Jimmy Iovine and Dr. Dre pocketed 30% apiece of the $309m paid by Taiwanese smartphone manufacturer HTC for a controlling interest in the wildly successful company, while UMG’s cut was 20%. But the $309m is just a first payment; the total for the company could eventually be close to $600m. This coup is the latest in a remarkable run of mega-paydays for Iovine stretching back two decades. He’s also drawing accolades for a superb branding effort. (8/25a)

BACK TO RUMOR MILL

		UMG AND TIKTOK WORK IT OUT The kerfuffle is in the past. (5/2a) Check It Out Now LUCIAN SOUNDS OFF ON UMG/TIKTOK DEAL A breakdown from the boss (5/2a) Check It Out Now HITS LIST: HANGIN' OUT With extra relish (5/3a) Check It Out Now LIVE NATION POSTS (ANOTHER) RECORD QUARTER More butts in seats than ever before. (5/3a) Check It Out Now A POST-WALLEN AFFAIR A dynamic duo, y'all (5/3a) Check It Out Now
		THE NEW UMG Gosh, we hope there are more press releases. TIKTOK BANNED! Unless the Senate manages to make this whole thing go away, that is. THE NEW HUGE COUNTRY ACT No, not that one. TRUMP'S CAMPAIGN PLAYLIST Now 100% unlicensed!

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IB on Beats deal

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