Reid's new entertainment company is set to launch next year, sources say
After exiting as chairman/CEO of Epic Records in May, Antonio "L.A." Reid is planning to launch a new entertainment company early next year and has already started to try to sign talent and recruit executives, sources tell Billboard.
The company will include a record label and publishing unit, and will also represent producers. Reid has been courting former colleagues to help him run the business, these sources say.
Reid left the top job at Epic following a sexual harassment claim by a former female assistant, and Sony reached a settlement with the assistant earlier this summer, sources tell Billboard. Sony, a lawyer for the assistant and a rep for Reid declined to comment.