L.A. REID Fired??????

Looks like that multi-million dollar deal L.A. Reid cut with rapper Shyne pushed the Def Jam board over the edge.  We hear he just got his pink slip yesterday.  News on Mr. Reid getting AXED when you read on...

It's been talked about for over a year now.  After Kevin Liles was "let go" last year from Atlantic, rumor had it that Chairman and CEO of Island Def Jam Music Group L.A. Reid would be next.

Our source inside the Def Jam offices tells us that Mr. Reid, who was responsible for signing Mariah Carey, Pink,Justin Bieber, Avril Lavigne, Toni Braxton, TLC, Usher, Ciara, and OutKast, copped his walking papers yesterday afternoon.  We're told the Board of Execs gave him the boot.

Of course, the Def Jam folks are planning to keep the announcement very P.C.  They will likely put out a statement saying things were cordial and/or mutual.  But that's def not the case, according to our source.   Def Jam indeed did not renew his contract.  We're not privy to the details on the reasons behind the split.  But we do know lots of politricks were involved.

We also hear Sylvia Rhone, Executive VP at Def Jam's parent company Universal, is next on the chopping block if Kelly Rowland's next album doesn't do well.

So new blood will be riding in to Def Jam/Universal soon.  Who will it be....