Columbia Records co-chairman and COO Steve Barnett could be heading for the hot seat at a new Capitol Label Group at Universal, according to reports.

While the potential move was first reported by Hits Daily Double, Billboard sources also suggest that talks between the two parties are taking place but stress that they are ongoing.

Billboard points out that the Columbia duo of Barnett and co-chairman and CEO Rob Stringer currently leads the US album market share.

Universal captured ...