Def Jam label head L.A. Reid is reportedly out of a job today after losing his position at Def Jam Records. However Reid not only lost his job, but his Def Jam cohort The Dream as well. The music conglomerate Vin Vendi is behind the let-gos linked to exuberant spending and poor record sales.

The music exec had recently signed Shyne to a million dollar deal. Did he really think Shyne was going to be the artist that could save the music world and help secure his lively hood at the top geez.

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