L.A. Reid Gets Fired From Def Jam?

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Edit: It’s apparently a false alarm, but we’ll see if what happens in the next couple of months.

According to YBF:

• Looks like that multi-million dollar deal L.A. Reid cut with rapper Shyne pushed the Def Jam board over the edge.  We hear he just got his pink slip yesterday.  News on Mr. Reid getting AXED when you read on…It’s been talked about for over a year now.  After Kevin Liles was “let go” last year from Def Jam, rumor had it that Chairman and CEO of Island Def Jam Music Group L.A. Reid would be next.Our source inside the Def Jam offices tells us that Mr. Reid, who was responsible for signing Mariah Carey, Pink, Justin Bieber, Avril Lavigne, Toni Braxton, TLC, Usher, Ciara, and OutKast, copped his walking papers yesterday afternoon.”Def Jam fired L.A. Reid,” the source tells us.  “He got the boot from the Board of Execs yesterday.”Of course, the Def Jam folks are planning to keep the announcement very P.C.  They will likely put out a statement saying things were cordial and/or mutual.  But that’s def not the case, according to our source.   Def Jam indeed did not renew his contract.  We’re not privy to the details on the reasons behind the split.  But we do know lots of politricks were involved.

Wow.  I can’t say I’m suprised because I have been saying this was going to happen for awhile.  First he signs that buster Shyne, and then Sheek to a major label deal?  These labels need an a plethera of new faces who understand it’s 2010, and that things have generally changed.

**Note From R.E.D. :

I shared with Sam that Shakir Stewart (R.I.P.) was L.A. Reid’s Hip-Hop guru and right-hand man.  He was the one who really knew rap and ended up signing Young Jeezy and Rick Ross before his untimely demise.  They have been trying to replace him with everyone from DJ Khaled to Sha Money XL.  I predicted the fall of Def Jam as well. L.A. Reid knows Pop and R&B extremely well, but without that counter-part it makes him weak in picking the right type of new rap artists to sign and support (i.e. Ace Hood, Sheek Louch, Shyne, etc..).