Russell Simmons Signs Run To New Label

[Mr. Humonculous]

Russell Simmons Signs Run To New Label
By Nolan Strong
Date: 4/13/2005 12:31 pm

This morning (April 13th) 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.

Reid, who has quietly been reassembling Def Jam since several key people left with Cohen including top exec’s Kevin Liles and Julie Greenwald, said he was equally enthused about the new relationship.

Reid revealed bringing Simmons back on board at Island Def Jam was something he had considered for sometime.

“It has always been my intention to structure a situation that would keep Russell in the Island Def Jam family, and I am proud that we will be able to continue to accomplish our goals together," Reid said.

“History has yet to catch up with the greatness of Russell Simmons and the extent of his contributions to our music and culture,” Jay-Z said of Simmons. “It is impossible to imagine the state of hip-hop today without accounting for Russell’s visionary leadership over the past 20 years.”


allhiphop