JIMMY IOVINE: Steps Down from Interscope

Now that the Beats Electronics - Apple deal has officially been announced and Beats co-founders Jimmy Iovine and Dr. Dre are taking on new roles, Iovine has a special announcement of his own. 

Jimmy is stepping down from chairman and CEO of Interscope Geffen A&M. Replacing him will be John Janick, the 36-year-old co-founder of indie label Fueled by Ramen.

Interscope Geffen A&M is home to the likes of Eminem, Kendrick Lamar, Mary J. Blige, Lady Gaga andM.I.A.