Music Industry Icons and Entrepreneurs, Jimmy Iovine and Dr. Dre (originally Andre Young) announced on Wednesday that they would be donating $70 million to fund the USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.

This school is intended to provide students with the facilities and tools to break into the constantly changing music industry. Classes will be taught by a variety of faculty from the various other schools on campus, from the Thornton School of Music, Roski School of Fine Arts, Marshall School of Business, and the the Viterbi School of Engineering.  

Erica Muhl, the current dean for Fine Arts at USC, will take the role of the new school’s first director.

Read more on the story here.

Read the full press release here.

Reach Executive Producer Eric Parra here.