We reported earlier that Jay-Z was "95%" done with a deal to distribute his Roc Nation label through Sony, as Billboard reported, but now the New York Times is reporting Jigga might be striking a deal with Warner Music Group. A "well-placed industry source" told the paper that Jay-Z has been meeting with Lyor Cohen and Kevin Lies about the possibility of creating his own label, tentatively called Carter Music Group, through 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," the insider said. "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 made sure to add "This is big in hip hop. These are three of the most powerful men in music, who might be working together, and there’s no question the success they’ll have as a team will be huge."