L.A. Reid, a legendary music executive, is joining other music industry executives that have been selling their entire catalogs. According to Variety, L.A. Reid has sold all of his 162-song writing to Hipgnosis Songs and its Investment adviser. He has been appointed to its advisory board, and the company has also acquired 100% of his publishing interests and writers share of income in his catalog.
While having such an important role in shaping hip-hop/R&B into what it is today, Reid co-founded LaFace Records with Babyface in 1998. The label launched the careers of many mainstream R&B/hip-hop artists such as Outkast, Toni Braxton, Usher, Pink, etc.
The catalogs that he sold includes records from TLC, who just recently accused him of bailing on the group unnoticed, the Whispers, Whitney Houston, Sheena Easton, Karyn White, Boyz II Men, and Bobby Brown.
Reid stated inside of the deal, “I can’t imagine a better home for my lifetime of music and songs than Hipgnosis. Merck and his dream team truly value artists and their creative vision, and I couldn’t be more thrilled to partner with them for this exciting new chapter.”
Other big-time producers such as The-Dream, RZA, and No I.D. are just a few who sold their catalogs to Hipgnosis, and now L.A. Reid finally joins them.
L.A. Reid exposed for doing TLC wrong
Going back to what L.A. Reid has just been exposed for, this week T-Boz went on a podcast and spilled to the world about how things changed for TLC after the death of their friend.
“I was talking about ten years, five to ten years, how the industry turned on TLC, which is a fact after Lisa had died because nobody knew what the state of the group was. Hell, we didn’t even know,” said T-Boz to Hollywood Unlocked. “I wasn’t talking about artists turning on us, I’m talking about the people that come in with the money, the promoters. The L.A. Reid types.”