XXL report:
Earlier this week, reports surfaced that Jay-Z was on his way to bringing his Roc Nation label, an imprint he created as part of his rumored $150 million deal with concert promoter Live Nation, to Warner Music Group. Now the New York’s Daily News has learned more about the possible partnership, this time involving an alleged separate label for Hov.
According to the Daily News’ gossip section, Gatecrasher, Jay has been meeting with former Def Jam associates turned Warner vice president and executive vice president respectively, Lyor Cohen and Kevin Liles, about possibly heading his own Carter Music Group on Warner.
“Jay knows Lyor and Kevin from back when they all worked together at Def Jam, and he obviously wants to work something out with his friends,” an inside source told the Daily News. “He wants to get the dream team back together. There have been a few whiffs of a reunion in the past, but only now - and very privately - is something finally starting to happen.”
The source adds that Cohen and Liles tried to get Jay to bring Roc Nation to WMG as well but he has instead decided to release his upcoming album The Blueprint 3 on Live Nation. Jigga recently reportedly bought out his contract from Def Jam for $5 million.
As of press time neither WMG, Jay-Z, or Live Nation have released any statements about the alleged negotiations. – Elan Mancini
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