Monday, February 28, 2011 2:07pm ET by  
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Kid Cudi ends label and splits with management

Kid Cudi has revealed that he has split with his managers and also explained that the record label he co-owned with Patrick Reynolds and Emile Haynie, 'Dream On', has folded.

The star tweeted:

"Dream On is over."

"new label announcement soon"

He also explained that he has parted ways with his management:

"Pat and Emile are doing their own thing, i wish them well. I have a diff vision, for music, for the world"

"im just doing the right thing, i come from a different place. people lose sight of the mission. cant expect everyone to be built like me"

He ensured to keep the air clear, and added:

"this is a day to rejoice, this isnt bad news. things are gonna be so epic, im like a kid on xmas eve im so excited bout this new chapter"

Watch Kid Cudi perform what he calls his "27 second verse" on Kanye's new single, 'All Of The Lights', here: