LILES FOLLOWS LYOR
OUT THE DOOR AT IDJ
Def Jam President Kevin Liles resigned yesterday from his post at the UMG label after the two sides failed to agree on a contract extension, according to today's N.Y. Post.
Liles' resignation is the second high-profile defection from the IDJ label in recent weeks after Chairman/CEO Lyor Cohen left last month to become head of Warner Music's U.S. recorded music business.
Universal has reportedly inked ex-Arista head Antonio "L.A." Reid to take over for Cohen as head of IDJ.
Liles said: "It has been an honor to work with [UMG Chairman/CEO] Doug [Morris] and [Interscope Geffen A&M head] Jimmy [Iovine]—and the entire team at Universal. I have immense respect for L.A. [Reid]. Brand building is my life and music is in my blood. I look forward to what's next."
Sources say the talks between Universal and Liles broke down over money. Liles will remain on the job for the next three weeks.
Many in the industry expect Liles to follow his longtime mentor Cohen to Warner along with current Island President Julie Greenwald, whose deal is also up.
Liles is currently working on a book about hip-hop management, which will be published in 2005.
"We wish Kevin the very best in all his future endeavors," said a Universal spokesperson.
