Rap Basement

Jay Z

Jay-Z’s Negociations To Stay President of Def Jam At Stand Still

Posted By on December 6, 2007

With Hov's contract expiring at the end of the month with parent company, Universal Music, Jay-Z's renewal negotiations seem to be at a stand still.

"He wanted big, big money that was way out of sync with the realities of today's record business," a source told the New York's Daily News. “People have lost count of how many times he’s come out of retirement,”
the source went on. “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.”

An article in the New York Daily News’ Rush & Molloy gossip column today claims that contract renewal negotiations between Jay-Z and the Universal Music Group have hit a wall. Claiming that L.A. Reid and UMG big boss Doug Morris are said to have found Jay’s demands “excessive” in light of the time he’s been spending on tour.

Still, a “friend” of Jay’s told the paper that “the talks will continue when he returns to New York. They still have a ways to go before a decision.”

Click Here to read the full article.

  • Real Talk

    She’s too old to be a lessy


    Album Is good For Going To Sleep Too! Def Not One of Hovas Best

  • ursocalledgod

    sooooo he DID give hime 20 million..smh an advance is just like a loan and it came out of rock nations / jays pockets. he never said he gifted him anything.