Music News


Jay-Z to Step Down as Def Jam President

By Yinka Adegoke,
Reuters
Posted: 2007-12-25 07:35:04
NEW YORK (Dec. 24) - Universal Music Group said Monday that rap artist and hip-hop mogul Shawn "Jay-Z" Carter is stepping down as president of its Def Jam Records unit, effective by the end of the year.

Carter, 38, has been president of the rap label since 2005, and has signed acts including R&B singers Rihanna and Ne-Yo.


'99 Problems'


'Show Me ...'

Universal said Carter, a top-selling rapper who performs as Jay-Z, will continue recording for its Roc-A-Fella/Def Jam label. But the company did not give a reason for his decision to quit the executive suite.

"Now it's time for me to take on new challenges," he said in a statement. "I am pleased to have had the opportunity to build upon the Def Jam legacy," he added.

Carter will focus on his expanding franchise of 40/40 Nightclubs over the next year and other businesses, according to a source familiar with his plans.

Carter regularly tops the lists of richest hip-hop moguls, and was No. 9 on Forbes' Celebrity 100, the annual roster of the world's most powerful -- and best paid -- celebrities, with an estimated compensation of $83 million.

Carter, who has said he was a street hustler growing up in the Marcy public housing project in a tough section of Brooklyn, New York, has sold millions of records and launched an array of media and fashion businesses.

Though known for his cutting-edge rap lyrics and rags-to-riches story, Carter often is mentioned in local gossip columns because of his romantic relationship with R&B singer Beyonce Knowles. Last week, he denied rumors that the couple had married in secret.

The rapper joined Def Jam as president to help turn around the fortunes of the then-struggling seminal rap label. His move to management followed his 2003 retirement from recording. His albums, including "Hard Knock Life" (1998), "The Blueprint" (2001) and his classic debut "Reasonable Doubt" (1996).

Jay's 'Roc Boys'

He returned to recording last year with the album "Kingdom Come" and this year followed up with an album inspired by the movie "American Gangster".

Def Jam's successes during his tenure as president, included Rihanna and Ne-Yo, who this month racked up 11 Grammy nominations between them.

"Jay made it clear to us that he feels the time has come to take on different challenges in his life. While we regret his decision to move on, we certainly respect it," said Antonio 'L.A.' Reid," chairman of Island Def Jam.

Universal Music, a unit of French media and telecommunications group Vivendi, is the world's largest music company with 30 percent of the worldwide market share.

Copyright 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.
2007-12-24 23:19:35
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Recent Comments

1 - 15 of 123
123 comments

Lucillefrances 09:22:00 PM Jan 01 2008

JAY~Z SHOULD GIVE COUNTRY MUSIC A TRY;RAP WAS BETTER IN THE 90'S.

Jamieparker24 10:55:00 PM Dec 30 2007

You people are embarassing your races. Way too much hate in this country. The Judge is watching and listening.

Vltluc 04:12:00 PM Dec 30 2007

GO AHEAD ON "JAY" AND MAKE A POWER MOVE YOU CAN AFFORD IT !!!!!!
" U GO BOY "

Redhot9500 03:28:10 AM Dec 30 2007

Sorry didnt realize there was a cut off point lol! Anyhow Jay Z was and will always be a talented man and i wish him the best of luck in whatever he chooses to do next..... Like hell MARRY BEYONCE already lol!

Redhot9500 03:22:44 AM Dec 30 2007

ALot of u people are a bunch of idiots!!! Your supposed to comment about how well Jay Z has done is his carreer and how well he will continue to do, not how black people were slaves to whites GET OVER IT, it was way before any of our times! Same with the other peoples comments for your information Jay is a very talented "MAN" Not talented BLACK man but point blank a "TALENTED MAN" why cant we just leave it at that??? This stuff is part of the reason racism is still such a LARGE problem in society today cuz u all cant just leave positive comments its always gotta be negative like some of u saying o he only made it cuz he was black and the others saying white people were lazy and needed blacks for slavery!!! Do u think that 100% of white people are proud of that, and that when we all learned about slavery years and years ago we were not sickened by hearing that but guess what it was not the faults of the whites living today!!! Also to the other commentors African "AMERICAN" men and wo

bgdaddy8765 01:06:17 AM Dec 30 2007

Aneeta24: The controlled media focus exclusively on the enslavement of Blacks. The impression is given that only Whites bear responsibility for enslaving Blacks and that only Blacks were slaves. In fact, Blacks in Africa engaged in extensive enslavement of their own kind. Slavery was endemic in Africa, with entire tribes being enslaved through conquest on a regular basis. When Arabic, Jewish and White slave traders arrived on the coast of sub-Saharan Africa, they seldom if ever had to travel inland and fight or pursue their quarry. They were met on the coast by Africans more than willing to sell slaves to them by the thousands. And in America, records show that Black slaves were owned, not just by a few wealthy Whites, but by free Blacks and by Cherokee Indians. In some cases, these Blacks and Indians even owned White slaves. Blacks are the victims of themeselves and take credit for to much which is not theirs to claim, and do not claim enough of what is to be responsible for.

bgdaddy8765 01:02:01 AM Dec 30 2007

Youompende Here is a site for you to read about the black claim on these inventions you claim and others: http://www33.brinkster.com/iiiii/inventions/
Enjoy, lol

MlsKmb 11:23:16 PM Dec 29 2007

keep your head up JAY-Z God is in control! I love you!

MlsKmb 11:21:49 PM Dec 29 2007

Keep your head up, Jay-Z, remember that GOD is in control! Go head and let them haters hate, look at where they are at! (you make more money than them).

Matrixxxangel 08:31:46 PM Dec 29 2007

he doesnt sing, he raps. eh duh

DodgersBfan 09:49:00 AM Dec 29 2007

who cares?

SScorpio07 09:27:57 AM Dec 29 2007

to"mysyaphy" First of all you need to get your facts straight. The 18 to 30 group that you mentioned is not the group the best represents hip-hop and rap music, Or supports it with our hard earned money that supports sales. I am 36(close to the same age as Jay-Z) and I have been a fan since his inception into the music game. It is really and american story at heart of someone coming from the bottom and rising to the top. So If the man wants to better himself and move on the the next plateau of his career. Then watch and support him. If you are truly a hip-hop fan. If not then keep your ignorant and racist comments to your self. I bet you are one of these new age so called gangstas 17-25 that think that dressing like your role model makes or gives you street cred..Well guess what asscrack, not even close. Do you even know what era formed hip-hop or where it began? I highly doubt it! One more thing about your comments on mainstream whites driving the succes of black music. Get over it!!

Yoyompende 11:18:00 AM Dec 28 2007

BGDADDY WHAT PART OF HE COUNTRY ARE YOU FROM. YOU MUST BE SOME KIND OF COUNTRY HICK. I TAKE THAT BACK. A IGNORANT COUNTRY HICK. AFRICAN AMERICANS HAVE INVENTED A LOT FOR THIS COUNTRY INCLUDING THAT PEANUT BUTTER YOU GOT UP YOUR -----. AND THAT TRAFFIC LIGHT THAT YOUR GIRL BRITNEY KEEPS RUNNING. YOU NED TO TAKE THAT SOMEWHERE ELSE AND READ YOUR HISTORY ON AFRICAN AMERICAN INVENTORS.

chizmarlan 11:15:22 AM Dec 28 2007

Maybe there will be less 'gangsta-rap.'
Yeah.
When pigs fly.

Aneeta24 12:13:17 AM Dec 28 2007

In respone to your ranting and raving bgdaddy8765, you sound very angry! but the truth of the matter is that if you feel that strongly about the negative contributions of black people throughout the centuries, go ahead and blame your ignorant, self serving forefathers for sailing the seas for thousands of years and taking the "black" people to your world and populating the North and South America to work the land, hell, if the "blacks" didn't do it, they would have had to get off of their lazy asses and tend to their own needs, and maybe the "whites" today would actually get the chance to take credit for building their own bullshit country! If you devils would have left my ancestors where the were, we would be doing just fine building our mud huts. Black people contributing to the US don't have shit to do with Jay-Z stepping down as Def Jam President, go to another forum with your racist antics, ******! (just thought I'd throw that in for ya!) :)

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