Posted by Bossip Staff
Jermaine Dupri has just been fired from his position as the President of Island Records:
AllHipHop.com has received an exclusive report that Atlanta-based producer Jermaine Dupri’s tenure as President of Island Records Urban Music has come to an end. A formal announcement of his departure from the position, which he has held for nearly two years, may come as early as Thursday (Jan 8). Speaking on condition of anonymity, a source close to the situation confirmed to AllHipHop.com that Dupri has in fact been terminated effective immediately.
The recession is even taking it’s toll on the big dogs of music.. This advice is going out to all entertainers: Save the money that you have left and stop making gaudy, extravagant purchases before you end up living in a box, sleeping on your precious chain.