Speculation has been mounting for months that all is not well with Jay-Z over at Def Jam. According to NY Daily News, negotiations for the renewal of the mogul’s ‘President’ position at the label are not going smoothly due to his ‘excessive’ (monetary) demands: “He wanted big, big money that was way out of sync with the realities of today’s record business.”
Island/Def Jam CEO L.A. Reid and his boss, Doug Morris, are said to have found Jay’s demands “excessive” in light of the time he’s been spending on tour.
“People have lost count of how many times he’s come out of retirement. Everybody knows he’s not around the office much. Everybody at Universal loves him, but they can’t justify paying him the money he wants when so many people have been laid off.”
His contract is said to expire at the end of this month.
The news couldn’t have come at a worse time for the rapper, who is dodging claims that he spent a whopping $15 million (of Def Jam’s money) on the promotion of his ‘American Gangster’ album.
It’ll be interesting to see how this one plays out…
Your thoughts?
” i’m raping Def Jam till i
m the 100 million $ man”
LOL…
IT’S DO ROC U BASTARDS
Oh Gosh Beyonce check on ya money, or just leave him for me, that’s the right time baby
If I was making up a story about Jay-Z and his Def Jam contract I would come up with something like this too. lol I really doubt that’s the case. He’s said so many times he doesn’t want a title for the sake of having a title. He wants to be a part of a team that wants to make history in music. Dude makes more money in his other ventures than from music anyway.
Yeah i can’t justify that s*** Either! Look 50cents did an interview recently and word is out jay’s a ruthless dude.If that’s the case he got the loot why didn’t he spend his on dime to promote his own album?
Of course not he spent this year budget so if your on def jam bottom line ya s*** ain’t getting promoted.