Jay-Z Calls It Quits with Legendary Record Label
Jay-Z and Def Jam partnership comes to an end.
Once president of infamous Def Jam records, Jay-Z parted ways with the music group, but had nothing but kind things to say about them, reports the New York Times.
According to MTV.com, the rapper bought out the remainder of his contract for $5 million. Jay-Z owed the record label one last album.
The partnership ended in a unique style, with a coin flip, and Universal Music Group Chairman Doug Morris won. Universal owns Def Jam.
His newest release, The Blueprint 3, will now be released on Roc Nation, which is a part of Jay's Live Nation contract, reports MTV.com. The larger-than-life rapper had signed the deal with Live Nation early last spring, but needed to finish his contract with Def Jam before he could move forward.
Jay-Z is not the only artist to no longer have a label. Madonna also signed a contract with Live Nation, which can be very beneficial for an artist, or quite painful.
