WASHINGTON (AFP): -If Wall Street struggles to see the logic in Apple's $3 billion deal for Beats Music, it may look across the river to Brooklyn, hometown of Beats co-founder Jimmy Iovine. Apple's biggest-ever acquisition includes the maker of high-end audio equipment and a streaming music service, but more importantly, the talent of Beats brains Dr. Dre and Iovine.
The wild card in the deal could be Iovine, 61, a Brooklyn native and son of a longshoreman who started in the business by cleaning studios and later was a recording engineer for John Lennon and Bruce Springsteen, before becoming a producer. ‘He's a real music guy and well-liked by artists,’ one industry executive told AFP.