The-Dream and L.A. Reid have been fired from Def Jam, according to Gyant Unplugged.
Vin Vivendi, a french international media conglomerate, with activities in music, television, film, and telecommunications, is reportedly behind the firing, claiming The-Dream as well as LA Reid are out due to disappointing sales figures and exuberant spending.
This comes as a bit of a surprise since L.A. Reid recently signed Shyne to a million dollar deal with the company. Then again, considering how the split with then-President Jermaine Dupri went down, maybe this should have been expected.
The-Dream was Vice President of Island Def Jam; L.A. Reid was Chairman and CEO.
An official statement is expected to be released soon.
We don’t want to say that The-Dream deserved this, but…