According to Page Six, Island/Def Jam head honcho L.A. Reid’s future is in doubt as CEO of the label. Rumors swirled that Reid would be canned following the death of veteran Def Jam exec Shakir Stewart who took his own life in 2008 after Reid sent him home to Atlanta with orders not to return.
Last week, Reid ducked out of his commitment to be the top key note speaker at a music industry event in NYC because he didn’t want to answer questions about his future with Island Def Jam. His excuse was that one of his sons was in the hospital with a head injury. But a Def Jam rep disputed his story, saying “It was unfortunate, but he was called out of town on personal business and hopes to be able to participate in a future symposium.”
Reid is under pressure to break a cold streak following the promotion of Lucian Grainge to CEO of Universal Music Group, which owns Island Def Jam. Following disappointing sales from artists including Rihanna and Mariah Carey, Reid has been ordered to rein in his spending and bring in a hit. Read More…
Reid has plans to sign Jennifer Lopez and ex-convict rapper Shyne to the label.