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[UPDATE] Rest In Peace: Beats Music & XXL Magazine To Fold

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UPDATE:

USA Today claims that Apple is NOT shutting down the Beats Music service. According to Apple spokesman Tom Neumayr, “it’s not true.”

We’ve lost two major names in music in one day.

XXL magazine has confirmed that they will be ending their print version and is joining the wave by going completely digital. Shortly after releasing their last issue featuring Lil Wayne, the well-known hip-hop magazine was sold to Townsquare Media, a company that focuses on radio and live events.

Townsquare Media’s Chief Content Officer Bill Wilson claims that 11 members of XXL’s editorial and digital sales staff will be offered positions with their company. While the specifics of the purchase haven’t been released yet, Townsquare has confirmed that XXL’s upcoming October/November issue will be their last issue.

“We think XXL has strong potential in both the digital and live events market,” Wilson told the New York Post earlier today.

Another grand brand to hit the guillotine is Beats Music. Earlier this year we reported that Apple had purchased the music and headphone company from founders Dr. Dre and Jimmy Iovine. While it seemed like Beats were heading the right direction after being acquired by Apple, ironically its Apple who is cutting the music streaming service.

According to Tech Crunch, Beats’ demise strengthens reports that Apple was more interested in hiring Iovine and Dre for their talent expertise and picking up the headphone brand rather than the music streaming aspect of the company.

Even though there were still several other efforts launched by Beats like Apple TV channel and a “Listen Now” integration with Shazam, it seems like those will head down the drain as well. Most who attended the revealing of the iPhone 6 and Apple Watch earlier this month were stumped as to why Beats Music wasn’t mentioned throughout the event. However, Apple is now moving forward with another unannounced music app with a blue play button which is featured on the new Apple Watch.

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