The co-founder of Def Jam Records apparently can’t stay away from the music biz. Russell Simmons will return to the industry with a new label, The Russell Simmons Music Group.
Even though his contract with Universal expired several months ago, Russell has still been in talks with execs at several major labels. Many of Simmons’ business associates from Universal have relocated to Warner in the past year, including Lyor Cohen, former Chairman of the Island Def Jam Music Group and Kevin Liles and Julie Greenwald, both former executive vice-presidents of the Island Def Jam Music Group and new executives at Warner Music Group. According to sources, talks of a new label deal between Simmons and Universal dissolved after the departure of Kevin Liles.
“I love music and I love the artists,” Simmons, the GQ magazine Man of the Year, told AllHipHop.com. “I’m looking for a place where I can really fit in and serve.”
Simmons reportedly has several unnamed acts signed to his new label.
