Exclusive: Jimmy Iovine Is Here To Stay , Rumors Of Departure "Utterly Untrue" Says Universal

Wednesday, Jul 23, 2008 1:00PM

Written by Cyrus Langhorne


After rumors broke out of Interscope's Chairman Jimmy Iovine on the verge of being fired, SOHH hit up the Interscope's parent company, Universal Music Group, to find out the real deal.

As previously reported by SOHH's Ya Heard, the head behind multi-platinum selling acts like Mary J. Blige, 50 Cent, the Black Eyed Peas and Eminem was allegedly getting ready to get kicked out the door after failed projects from G-Unit and Nicole Scherzinger hit shelves.

Another key reason behind the executive's departure was reportedly due to internal conflicts including the recent gossip that Busta Rhymes was going to be dropped by the label.

Despite these allegations, SOHH got a hold of the executive vice president of Universal Music Group, Peter Lofrumento, to clarify his job status at Interscope. "This story is complete nonsense," he wrote in a statement to SOHH. "It is utterly untrue."

As of today, he remains the Chairman of Interscope Geffen A&M Records.

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