According to industry insiders who spoke to New York's Daily News, one of the major reasons Jay (born Sean Carter) will be leaving Def Jam is because of the recent signing of Jermaine Dupri as the president of the Island Urban music division.
If Jay-Z moves to Columbia, he will be joining forces with Def Jam co-founder Rick Rubin, who was appointed as an executive at Columbia in May.
"[Rubin] is creating a super group of staff," explained another anonymous source. "So it would make sense that he would want Jay on his side."
Jay worked with Rubin in the past, collaborating with the legendary producer on "99 Problems," for 2003's The Black Album.
Hov's girlfriend, R&B singer Beyonce, is part of Columbia's roster while Dupri's girlfriend, Janet Jackson, signed to Island two weeks ago.
Representatives from Island Def Jam declined to comment when contacted.