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This morning Russell Simmons formally announced his latest venture, Russell Simmons Music Group, and revealed that he’s signed his brother Reverend Run of the seminal group Run DMC.
In addition to Run’s rock album, Simmons has also pulled R&B group Buddafly into his latest venture.
The new imprint will be distributed by Island Def Jam Music Group, a company that Simmons founded in 1984 with then partner Rick Rubin. Simmons later sold the label in 1999 for over $100 million dollars.
Simmons told AllHipHop.com in November that he was in negotiations with several labels including Island Def Jam, which is now helmed by Antonio "LA" Reid.
"I am happy to serve LA Reid," Simmons told AllHipHop.com. "I have never had anything but respect for him. I am honored to by a part of his team."
In February of 2004, Reid was named chairman of the label by Universal chairman Doug Morris, after former CEO Lyor Cohen left the label for Warner Music Group's top North American slot.
Reid has had an illustrious career as well and in 1989 founded LaFace Records, a joint venture with Arista. LaFace pumped out hits by TLC, Toni Braxton, Outkast, Goodie Mob and others. Reid took Clive Davis' top position at Arista and signed Avril Lavigne, Pink and others. According to published reports, BMG brass fired Reid because of his spending habits.
When Reid took over the company, he told Newsweek in an interview that in order to return Def Jam to its previous glory; he would focus on generating sales.
"It's about hits and stars," Reid said. Sticking to his mantra, the mogul later named rapper Jay-Z President of the Def Jam label.
Source: allhiphop.com
In addition to Run’s rock album, Simmons has also pulled R&B group Buddafly into his latest venture.
The new imprint will be distributed by Island Def Jam Music Group, a company that Simmons founded in 1984 with then partner Rick Rubin. Simmons later sold the label in 1999 for over $100 million dollars.
Simmons told AllHipHop.com in November that he was in negotiations with several labels including Island Def Jam, which is now helmed by Antonio "LA" Reid.
"I am happy to serve LA Reid," Simmons told AllHipHop.com. "I have never had anything but respect for him. I am honored to by a part of his team."
In February of 2004, Reid was named chairman of the label by Universal chairman Doug Morris, after former CEO Lyor Cohen left the label for Warner Music Group's top North American slot.
Reid has had an illustrious career as well and in 1989 founded LaFace Records, a joint venture with Arista. LaFace pumped out hits by TLC, Toni Braxton, Outkast, Goodie Mob and others. Reid took Clive Davis' top position at Arista and signed Avril Lavigne, Pink and others. According to published reports, BMG brass fired Reid because of his spending habits.
When Reid took over the company, he told Newsweek in an interview that in order to return Def Jam to its previous glory; he would focus on generating sales.
"It's about hits and stars," Reid said. Sticking to his mantra, the mogul later named rapper Jay-Z President of the Def Jam label.
Source: allhiphop.com