hip hop music

December 8, 2004

Jay Z and Damon Finally Splitting?

According to the NY Post (is there a more dangerous way to start a sentence?), the oldest rumor in the industry is finally coming to fruition:


Jay-Z and Dash, who have been partners in Roc-A-Fella Records with Universal Music, inked a deal this week with Universal that will allow the two partners to go their separate ways, according to a source close to the negotiations.

Universal agreed to buy the 50 percent of Roc-A-Fella it doesn't already own for less than $10 million, according to the source. In 1997, Roc-A-Fella sold a 50 percent stake to Universal's Island Def Jam for $1.5 million.

Universal had an option to buy the stake, which would have come due in the summer. Roc-A-Fella will be folded into Island Def Jam, and become a small-imprint label, sources said.

...The rapper, who has said he is retired as a recording artist, would still be obliged to make new albums with Universal should he decide to come out of retirement...

...The source of tension between the business partners has been Jay-Z's belief that Dash, who has been CEO of Roc-A-Fella, has been trying to become too much of a star himself, and was beginning to overshadow some of the label's artists, according to sources.

Dash also persisted in pushing Roc-A-Fella into the film industry, something Jay-Z resisted, sources have said.

Those are not exactly the reasons I'd been hearing, but who knows.

EDIT: I've confirmed that the basic premise is true at least, and Roc-A-Fella basically ended last Friday.

Posted by jsmooth995 at December 8, 2004 3:31 AM

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