Jay-Z Dismissed From Def Jam?


Jay-Z


Jay-Z reportedly will be released from his position as the CEO of Def Jam before the renewal of his contract.

Words are circulating that Jay-Z is going to be dismissed from Def Jam before he walks away voluntarily. Bosses at the label reportedly are sick of the rapper's huge demands and are therefore glad to pull him from the position as the CEO.

Island Def Jam executives L.A. Reid and Doug Morris allegedly called Jay-Z's demand "excessive". A source told The Daily News, "He wanted big, big money that was way out of sync with the realities of today's record business. 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."

The 'sacking' may come in line with the expiration of his contract with Def Jam this month. "They are still actively negotiating," an insider said. "The talks will continue when he returns to New York. They still have a ways to go before a decision."

Should the departure really happens, Jay-Z reportedly will sign a new deal with Columbia where girlfriend Beyonce Knowles is.

© AceShowbiz.com


MORE FROM NEWS

Leave a Comment

Required fields are marked with *

   

TODAY'S HEADLINES

  1. Bella Thorne Almost Spills Out of Her Tiny Top as She Parties at EDC Las Vegas - Watch the Video
  2. Kenya Moore Finally Reveals Husband's Face and Name in New Instagram Post
  3. Iggy Azalea Goes Commando in Racy Lace-Up Dress at MMVAs, Nikki Bella Rocks Plunging Sheer Gown
  4. Lena Dunham Goes Topless in New Racy Selfie
  5. Angelina Jolie and Brad Pitt in Talks to Put Divorce on Hold
  6. Are They Okay? Beyonce and Jay-Z's Twins Remain in Hospital Due to 'Minor' Health Issue
  7. Kim Kardashian and Kanye West Spend a Whooping $30K for North's Preschool
  8. Beyonce and Jay-Z's Twin Babies' Names Allegedly Revealed!
  9. 'Godzilla 2' Cast, Plot and New Creatures Are Confirmed as Filming Begins
  10. 'xXx4' Is Happening With 'Xander Cage' Cast Returning

CELEBS PHOTO