James "Jimmy" Iovine (; ; born March 11, 1953) is an American entrepreneur, record producer, and film producer. He is best known as the co-founder of Interscope Records and chairman of Interscope Geffen A&M. In 2006, Iovine teamed with Dr. Dre to found Beats Electronics, a company which produces audio products and operates a music streaming service. The company was purchased by Apple for $3 billion in May 2014.