Jay-Z steeped down as president of Def Jam back in December of 2007, and since then there has been many rumors and speculation about what he will be doing next. The most recent of these rumors was that Jay was going to Warner Music Group. Apparently an industry insider told the New York Daily News that Jay was in talks to start his own label with the head of Warner Music Group, Lyor Cohen. Cohen has previously stated, "I would be honored and privileged to work with him again. Bringing
Jay-Z to the Warner Music Group would be a privilege and a coup. I'd do
it in a heartbeat." When Kevin Liles was asked to confirm or deny the rumors, he wouldn't do either. He simply said "Jay is going to do Jay. I wish him the best of luck in whatever he decides to do. We always gonna be together so it is what it is."