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Are Jay-Z and Beyoncé About To Get Richer?

by Jeanne on July 15th, 2007

Wow, is there anything this couple can’t do?! ;)

Here’s the scoop:

Quoting unnamed sources, MacRumors reports that Jay-Z and Apple creating a new record label, and that it’s a done deal. The current head of Def Jam Records is said to be bringing other big-name talent to the venture:

[Jay-Z and Beyonce] will move to Apple to run a new music division. It sounds rather incredible: [Jay-Z’s] already got a pretty good job, running Def Jam, and [Steve] Jobs may be too smart to get into the tanking recording business (as others have said). Of course, if it is true, my guess is this would be a new, revamped record biz, one based on digital distribution, not boring old physical products.

Def Jam is part of the Universal empire which recently ended its long-term contract with iTunes in favor “at-will” sales model.

Tags: jay-z apple, jay-z apple record label

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POSTED IN: Jay-Z