Jay-Z Buys Out Def Jam Contract

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Jay-Z has officially parted ways with Def Jam. It was confirmed by MTV.com that Hip-Hop superstar Jay-Z has finally bought out the rest of his contract with Def Jam Recordings for $5 million. The rapper announced the news Thursday afternoon, with no real reasoning behind it.

We can probably suspect that Jay-Z would rather continue to pursue music under the Live Nation branch. Last Spring, Jay signed a deal with Live Nation for future albums, tours and sign new artists under his label Roc Nation for a reported $150 million.

Jay-Z released a statement about his time over at Def Jam saying,“I can honestly say, working with Doug Morris and L.A. Reid has been a unique and fulfilling experience, and I respect them immensely,” Hov told RapRadar. “I’ve been in the family for almost my entire career. Doug and I spoke directly and had one of the most unique ‘negotiations’ ever.”

Jay-Z & Stargate Launch New Label & Publishing Company

Jay-Z and songwriter/producer Stargate have partnered up together to launch a new record label and music publishing company under Jay-Z’s Roc Nation venture with Live Nation.

The record label and publishing company will “find new talent and develop artists through mutually beneficial global partnerships which include music distribution, publishing, touring and merchandising.”

Stargate will be on working on upcoming albums from├é┬áLindsay Lohan, Beyonce, Monica, R. Kelly and Keyshia Cole. As for Jay-Z, his new album, “Blueprint 3,” is expected before year’s end. “Blueprint 3” will be his last album under his Def Jam contract, after that his Live Nation deal begins.