Jay-Z Buys Out Def Jam Contract & Gets Next Album for $5 Mil

020808_jayz_400x300

Rumors been making their rounds around the net today that Jay just bought out of his Def Jam contract and purchased his rights for his next album for $5 million. I guess he wants that Blueprint 3 all to himself under Roc Nation.

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)

RapRadar revealed that Jay reached out to them personally and confirmed the rumor is true.

“I can honestly say, working with Doug Morris and LA Reid has been a unique and fulfilling experience and I respect them immensely. 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.”

Has anybody got a clue what Dame Dash is up to these days. Jay pays $5 mil and Dame is in debt for probably $5.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: