Dr. Dre looks to be on the cusp of becoming hip-hop's first billionaire, and he may also soon be able to add "Apple executive" to his resume.
Iovine, a music industry staple, was tapped by one Billboard source as taking over all of Apple's music strategy and cultivating Cupertino's relations with labels and publishers.
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There's no word on what Dr. Dre (née Andre Young) would be tasked with once he entered Apple's ranks.
No one is forgetting
Word on the web is Dre and Iovine are preparing to sell Beats to Apple for $3.2 billion (about £1.8b, AU$3.4b). The deal could be announced sometime this week, though it will likely take over two months to close.
Since that's the case, Billboard surmised Apple may hold off on introducing Iovine and Dr. Dre as Apple employees until all the i's are dotted and t's crossed.
Known for its line of high-end-yet-questionable-quality headphones, most industry observers recognize Apple is likely gunning for Beats Music, the company's streaming service, to bolster its stuttering iTunes and iTunes Radio.
What's more, our own Gary Marshall posits Apple is looking to take on Beats' top talent, a theory that lines up nicely with Billboard's report.