|  On
Wednesday December 8th, after months of speculation and
rumors, Jay-z a.k.a. Sean Carter was officially announced
as the new president and chief executive of the Island Def
Jam Music Group. Antionio “L.A” Reid, the chairman
of Def Jam records, confirmed the decision in an announcement.
There were rumors swirling around the entertainment industry
for weeks that Jay-z and Russell Simmons, Def Jam’s
founder were in talks to give Jay-Z a corporate position
in the company.
Jay-Z unofficially retired from a music career earlier this
year with the release of his ninth album, “The Black
Album” and a farewell concert at Madison Square Garden.
The album soared to number one after it’s release
and shortly after he was certified platinum. Retirement
hasn’t been all Armadale and vacations with Beyonce
for the rapper, it seems like his overall stock in the industry
has risen since his retirement. Jay-Z released not only
one but two collaborations in the past three months. His
Best Of Both Worlds Album: “Unfinished Business”
with R. Kelly reached number 1 on October 26th. Just last
week Jay-Z and Linkin Park released MTV Mash-ups, a rap
and rock collaboration, which also debuted at number  one.
Look out for the Jay-z and Tim McGraw collaboration coming
early 2005.
In other related news, Jay-z and Damon Dash sold the remaining
percentages of their label, Roc-A-Fella for an estimated
$11 million dollars. That moved happened days before the
decision to hire Jay-z to the Def Jam staff. That move apparently
also officially ended ties between Jay-z and Damon Dash
who have reportedly been feuding for months. Dash is expected
to begin his new label Roc4Life and Jay-z has been working
on his label Sean Carter Records. No word yet on how the
artist roster on Roc-A-Fella will be affected. The label
is home to Kanye West, Memphis Bleek, Beanie Siegel and
Cam’ron among others.
Speaking of Cam’ron he has reportedly been granted
a release from his contract. He received an ok from L.A.
Reid to seek another label. Cam’ron released his fourth
album, Purple Haze on December 7th. Cam’ron was not
pleased with the way Def Jam promoted his album and that
might be the reason he wanted out of Def Jam. His album
was originally supposed to hit stores in February, after
being pushed back countless times, three different dates
in December alone. Cam’ron left Sony Music after his
second album S.D.E. was not promoted the way he wanted it.
Another possible reason for Cam’s departure is his
relationship with Jay-z. Although they were on Def Jam and
Cam’ron and his protégé Juelz Santana
are both signed to Roc-A-Fella Records, in the past Cam’ron
has said that he and Jay-z weren’t cool. That being
said it’s hard to see Cam’ron and so many other
artists reporting to Jay-z about their projects.
In other ENTERTAINMENT NEWS:
Ludacris reportedly sold his label DTP Records over to Def
Jam for $11 million dollars after months and talks with
labels. Def Jam is already home to Ludacris and Shawnna,
who both released albums within the last few months. Acquiring
DTP would also provide Def Jam with the other group members
I-20 (who released Self Explanatory on Capital Records in
September), Lil Fate, Tity Boi and Dolla Boy. Ludacris responded
that he had not sold his label, and that he only entered
into a joint venture with Def Jam.
|
