L.A. Reid was scheduled to give a speech at a music event this week but canceled.  He says his son was sick but sources say he wanted to avoid questions about his future at the label.

The rumor mill has been buzzing quietly for awhile about this for awhile, but it looks like L.A. Reid may be getting fired from his position as Chairman and CEO of the Island Def Jam Music Group.

Chairman of the Island Def Jam Music Group, Antonio “L.A.” Reid, chartered a private jet and flew to Belize yesterday to get Shyne’s signature on a multi-million dollar recording contract.