Both are expected to join Apple in yet-to-be confirmed executive roles. One person said Iovine would likely oversee all of Apple's music strategy and handle relationships with labels and publishers.
Eddy Cue, Apple's SVP of services, currently handles negotiations with music labels and the entertainment industry in general. If Cue is currently spread too thin, handing off music to Iovine could allow Cue to focus on other areas like TV and movies, and existing products like iCloud and the iTunes Store while enabling Apple and Iovine to push ahead on streaming and other music services.
Although the iTunes Store is the largest digital store in the U.S. and accounts for over 70 percent of all song and album downloads, there has been a sharp decline of download sales in the first quarter of 2014. Flagging download sales and increasing usage of streaming services like Spotify are said to be major motivators behind Apple's acquisition of Beats as the manufacturer looks to gain a foothold in the subscription music segment.
Neither company has officially confirmed the deal, though rumors persist Apple will acquire Beats for $3.2 billion in a deal that could complete as early as this week.
What do you think? Could you see Jimmy Iovine and Dr. Dre walk out to join Apple's CEO, Tim Cook, on the WWDC 2014 stage?