babyface

LaFace To Sell Remaining Portion Of Label

Sources

say LaFace Records label founders Antonio "L.A." Reid

and Kenneth "Babyface" Edmonds are going to be selling

the remaining 50% of their company. Billboard reports that Bertelsmann

Music Group (BMG), which distributes LaFace through its Arista

label, is said to be in negotiations to purchase the label for

$125 million. BMG already owns half of LaFace. BMG declined to

comment on whether it is seeking full ownership of the imprint;

however, the company likely has the first option to purchase the

remaining interests. If the deal closes, one scenario has BMG

offering a senior creative role to Reid. It is unclear what sort

of personnel changes or reorganization would happened at LaFace

if and when it is sold. LaFace’s roster includes Outkast, Goodie

Mob, Toni Braxton, Usher, and TLC, among others.

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