SHAPIRO STAYING
PUT AT ATLANTIC

The Atlantic Records GM has re-signed at the label, despite a lucrative offer from Antonio "L.A." Reid to join his new team at Arista Records.

"I am honored to have been considered by L.A. Reid for a spot at Arista Records and I have no doubt that he can only be successful," Shapiro told hitsdailydouble.com. "In the end, I could not surrender my place on the incredible team that val azzoli',390,400);">val azzoli',390,400);">Val Azzoli has mentored here at Atlantic Records."

Recently, Co-Chairman/Co-CEO Azzoli has been able to tighten his inner circle of key executives by re-upping Shapiro, Craig Kallman and Jason Flom to new long-term contracts.

Shapiro's current contract was to expire in the first quarter of 2001.

It is unsure what title Shapiro will receive with the new signing, but the presidency has been open at Atlantic for years—Azzoli was the company's last President. The president position at Atlantic has long been a political nightmare, with Shapiro, Kallman and Lava Records' Flom all vying for the job.

But given that Kallman has renewed his deal and Flom would have had to take a cut in pay for the job, Azzoli may have been enabled to elevate Shapiro in order to keep him.