Jimmy Iovine Re-Ups With UMG

Interscope Geffen A&M (IGA) head Jimmy Iovine has renewed his contract with IGA parent Universal Music Group (UMG) for six years, sources confirm.

Interscope Geffen A&M (IGA) head Jimmy Iovine has renewed his contract with IGA parent Universal Music Group (UMG) for six years, sources confirm.

As a provision of the new contract, Iovine can partner with UMG for film projects centered around IGA music artists -- a clause reflecting the executive's success as producer of 2002's "8 Mile" movie starring Interscope rapper Eminem.

The news caps a busy few months for Iovine and UMG. In October, IGA absorbed the artist roster and A&R staff of DreamWorks Records after UMG purchased the label from DreamWorks SKG. Just last weekend, Island Def Jam Music Group head Lyor Cohen announced plans to leave the UMG label to take over as chairman/CEO of Warner Music Group's U.S. operations.
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