Report: Jimmy Iovine says he has no plans on leaving Apple


Variety reports Iovine told the publication and a group of music executives he has no plans to step away from Apple. The comments follow rumors that Apple Music's dealmaker was stepping away in August. The speculation apparently was based on Iovine's maturing stock options and contract terms.

"My contract is up in August, but the funny thing is, I don't have a contract. I have a deal, and certain things happen along that deal. The bottom line is I'm loyal to the guys at Apple. I love Apple, and I really love musicians. That's why those articles annoyed me, because it had nothing to do with reality. It made it out to be all about money."