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Music

This Is Kind Of A Big Deal: Arista, Jive, J Records All Shutting Down

#OccupyMusic

Uuuuuuuugh. Just when you thought it was time to TGIF, The Hollywood Reporter (what, you mean you're not a subscriber??) breaks a story that hits a little too close to home.

Today, RCA Records CEO Peter Edge and newly promoted President/COO Tom Corson announced that they have terminated Clive Davis' iconic major labels Arista, Jive, and J Records, leaving RCA to inherit their rosters.

Corson denies that the decision came about as the result of struggling business, but given the recent round of high-level executive layoffs and massive roster cuts, we can't help but have a poor taste in our mouths.

But before you accuse us of being major label millionaire mogul sympathizers, put down your "We are the 99%" signs and understand what this means: If the label executives responsible for breaking such icons as Whitney Houston, Aretha Franklin, and Barry Manilow (and, of course, let's not forget Britney Spears and N'SYNC) are now forced to bathe in mere sparkling wine as opposed to champagne, what's going to happen to the independent record label "execs" who can barely afford hot water?

We don't feel good about this. Not one bit…