The long-time label exec will be launching his own entertainment company in 2018, reports Billboard.
The new company will be multi-faceted, with a record label and publishing unit. Producers will also be represented by the imprint, which Reid is currently looking to staff and fill with hot talent.
Reid exited his position as chairman at Epic Records in May, after being a part of the team for six years. Reid, who started with the imprint in 2011, helped the likes of Future, DJ Khaled and Travis Scott all earn No. 1 albums over the past year. He also signed popping acts like 21 Savage and Zoey Dollaz, and inked popular non-hip-hop acts like Meghan Trainor and Fifth Harmony.
However, his tenure at Epic was not without incident. Shortly after he left the label, he was sued for sexual harassment. The accuser claims 60-year-old Reid, who’s a married man, made “inappropriate physical advances” on her during his time there.
Reid will try to recreate the success he had with Laface Records, which he launched in 1989. LaFace went on to kick start the careers of iconic acts like OutKast, Goodie Mob, TLC and Usher. When Arista Records absorbed LaFace in 2000, Reid became the CEO. In 2004 he joined the Island Def Jam Music Group before moving over to Epic.