Producer and former Geffen Records chairman Ron Fair is in talks to take a presidential or chairman-level post at a revived Virgin Records, a source close to the situation confirmed to Billboard.biz. The source emphasized that the deal is still being negotiated and, if successful, could be struck imminently or within a few weeks.

Virgin is a division of the former EMI labels that were acquired by Universal last year, which are now united under the Capitol Music Group umbrella; Steve Barnett came over from Columbia to helm the group last fall. The labels in the group are Capitol, Virgin, Blue Note, Astralwerks, Harvest, Capitol Christian Music Group and Caroline. Dan McCarroll, most recently president of the Capitol & Virgin Label Group, is expected to remain at the helm of Capitol.

Fair, who was hired in a consultancy role at Front Line management in April of last year, has a 30-year track record as an A&R executive and record producer. He is known for shepherding the career of Aguilera and his contributions to producing and providing A&R services for the Black Eyed Peas, Mary J. Blige, Queen Latifah and others. His recordings have won 18 Grammy Awards. He previously held positions at Chrysalis Records, RCA Records, Island Records and EMI Records. Fair’s recent projects include Matt Goss, children’s’ television show “The Gonnabeez,” The New Pussycat Dolls, and this season’s finalists from NBC and Universal Record’s hit show “The Voice.” [Billboard.biz]