Music mogul L.A. Reid is reportedly taking his talents to Epic Records just months after resigning as Island Def Jam CEO and taking part in television reality show “The X-Factor.”
Reports suggest Reid’s pursuit to become Epic’s chairman will solidify early next month.
Sources tells THR the 55-year-old executive is expected to arrive at 550 Madison just after the fourth of July holiday (Sony Entertainment’s new chief executive Doug Morris officially takes the reigns on July 1). In his new position, Reid will inherit the label last helmed by songwriter Amanda Ghost, whose controversial one-year stint nearly destroyed the company. Since her exit in late 2010, things have quieted some, but hits are still hard to come by, despite some significant strides, namely breaking The Script and, on a smaller scale, Denmark’s Oh Land. (The Hollywood Reporter)
He will also place an emphasis on working with more urban-based acts.
It’s also anticipated that Reid will steer the company towards more urban releases, which may not bode well for the label’s rock acts, including Incubus, whose first album since 2006, If Not Now, When?, is due out July 12, and Augustana, whose Epic debut was released in April after Ghost’s tenure sidetracked the record. (The Hollywood Reporter)
Reid is expected to work with music stars including Usher and Pink upon becoming Epic’s chairman.
As for the Jive Records roster, Epic will absorb some of those artists, including Pink and Usher, both originally signed through Reid’s LaFace Records, which entered into a joint venture partnership with BMG-owned Arista Records in 1989. Other marquee Jive acts, like Britney Spears, will likely stay with the RCA half of the former RCA/Jive Label Group. Another name staffers are curious about? Outkast, and whether the duo will reunite with Reid, who ran Arista Records from 2000 to 2004 (during which they won six Grammys), and at long last release new music. (Billboard)
After leaving Def Jam in March, Reid hinted at plans to make a return to the music industry.
“Listen, I’m nobody’s fool, I didn’t give up my day job,” he said in an interview. “I just left, I had to leave Universal Music Group and try my hat on someplace else, that we’ll announce, well… we’ll announce that in a little while…It’s a little bit of a shift…You’re not done with me yet — I’m telling you the truth: I have not been shipped off to TV land. I am a record executive and I shall be right there in your face with my records.” (Hot 97)
Check out some past L.A. Reid footage down below: