Reid Exits...
[From BBC]
R&B hit-maker Reid leaves Arista
US music executive Antonio "LA" Reid,
one of the most influential men in modern R&B, has stepped down as head of
Arista Records after three years.
He launched the careers of OutKast, TLC and Toni Braxton, and produced hits
for Boyz II Men, Whitney Houston and Bobby Brown during 25 years in the
industry.
But he has now resigned as president and chief executive officer of Arista.
Arista's parent company, Bertelsmann's BMG, felt that a change was needed,
according to the Reuters news agency.
Arista was estimated to have lost more than $100m (£54m) in the last two
years, Reuters reported.
Merge plans
The label's current roster includes Avril Lavigne, Pink, Usher, Blu Cantrell
and Dido.
And Reid's departure comes as Bertelsmann and Sony await regulatory approval
to merge their music divisions.
One of Reid's most publicised decisions came when he signed Houston for a
reported $100m in 2001.
But she has struggled to find success in recent years, with her last album,
Just Whitney, reaching number nine in the US chart.
Reid's career began when he teamed up with Kenneth "Babyface" Edmonds in the
1980s to form a hit songwriting and producing partnership before launching
their own LaFace record label in 1989.
Reid succeeded Arista founder Clive Davis as head of the label in July 2000.
NEWSFILE:
14 JANUARY 2004
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