Putting an end to rumors that he was considering jumping ship, Clive Davis has signed a longterm contract with BMG to remain prexy/CEO of Arista Records.
Davis, who founded Arista in late 1974, had been negotiating with BMG for some time. Various scenarios, which the exec would neither confirm nor deny, had him starting another label or linking with David Geffen.
Other informed sources, however, doubted that Davis would so easily give up the company he built. Perhaps the exec’s greatest success story at Arista has been the career of Whitney Houston.
Label also made something of a splash with its 15th anniversary concert at Radio City Music Hall, with proceeds benefiting AIDS organizations.