rumors that Def Jam Chairman, L.A. Reid has been fired

The internet is buzzing today with rumors that Def Jam Chairman, L.A. Reid has been fired.

Reid has been responsible for signing acts like Mariah Carey, Justin Bieber, Pink and Outkast. However, profits in the recording industry have been slipping, and his signing of rapper Shyne, to a seven figure deal might have done him in.

There are various reports that The-Dream has been given his walking papers as well.

                DAMN NOBODY WAS HAPPY THAT SHYNE DEAL...#LEMON