L.A. Reid Flies To Belize To Sign Shyne To Seven-Figure Deal, Clearly Not Worried About Downturn In International Music Sales

    This whole Def Jam signing Shyne to a seven-figure deal story has gotten even crazier: On Monday, L.A. Reid, current head of Def Jam, flew down to Belize to sign Shyne in person as part of a minor publicity stunt. It seems like it was a gross over-use of company money, since I can’t imagine the population of Belize having enough money to recoup the reported $5 million Island Def Jam gave Shyne as an advance (and actually, it could be much more, since MTV is claiming that they found out it was for $10 million). Reid seems overconfident in Shyne’s ability to make an incredible comeback after serving nine years in prison (and actually, a comeback wouldn’t be accurate, since dude never really had a serious hit to begin with), telling a reporter in Belize that he’d be executive producing all future Shyne projects. I think the real issue here is that Reid is stuck in 1994, and thinks seven-figures is an entirely reasonably advance for a rapper who just did jail time and isn’t even as famous as half of Lil Wayne’s Young Money crew. [News Belize]