Def Jam Changes The Locks on L.A Reid & The Dream!!!
Def Jam label head L.A Reid is reportedly out of a job today after losing his position at Def Jam Records.
The music exec who recently signed Shyne to a million dollar deal with the company, has been ousted according to various published reports.
According to GyantUnplugged, Reid not only lost his job however but his Def Jam cohort The Dream as well.
The music blogger reports that music conglomerate Vivendi is behind the let-gos linked to exuberant spending and poor record sales.
An official statement on the incidents is expected to be released.
HipHopWired will keep you informed as this story develops.
Wowwwww!!!!! I knew that they already had half of L.A’s sh** in a box but hadn’t heard anything until now about The Dream getting the boot. He just made VP a year or so ago…
L.A dropped the ball with Rihanna, Chrisette, Amerie and Mariah Carey’s 2009 releases, great albums that fell through the cracks due to poor management.. Then he signs 2 extremely high risk artist, Jennifer Lopez and newly released rapper Shyne. Jennifer’s last 2 or 3 albums have flopped and Shyne’s been locked up since that early 2000′s. It just doesn’t seem like he was making wise business decisions. Oh and I almost forgot that whole mess with Janet back in 08!
The Dream has never been able to cover much ground as an artist but his productions routinely climb the charts. His work with Beyonce, Rihanna and Mariah Carey has slayed radio but maybe a good producer isn’t the best laabel head??? IDK and everyone is still waiting for Def Jam’s official press release. I’ll keep you guys posted!