JAY-Z DOES IT AGAIN....

Thursday, May 21, 2009

Hip-hop mogul Jay-Z has confirmed reports which claimed he has purchased the remainder of his business contract with Def Jam Records, including his unreleased Blueprint 3 album obligation.


Jigga kept details to a minimum, however, he did say a conversation with Def Jam executives has already taken place.
"I can honestly say, working with Doug Morris and LA Reid has been a unique and fulfilling experience and I respect them immensely," Jay said in an interview. "I've been in the family for almost my entire career. Doug and I spoke directly and had one of the most unique 'negotiations' ever. Doug won the toss but, we both won in the end...I thank him for allowing me to be a completely independent artist. Not every artist can say they own or are given the opportunity to own all of their music." (Rap Radar)
While Def Jam has yet to comment on the alleged transaction, details surrounding the deal have begun circulating online.
As Roc Nation, Jay-Z's new home under the Live Nation umbrella, takes shape, the hip-hop superstar has reportedly bought back the last remaining record on his Island Def Jam deal for what some say is a whopping $5 million, raising a number of intriguing questions. How does the album figure into the plans of Roc Nation's brain trust, which also includes the A&R-savvy Jay Brown and Tata, as well as Jay-Z's business manager John Menielly? How will it be marketed and distributed? Will Roc Nation employ a traditional distribution channel or take the LP direct to retail? (Hits Daily Double)