Jay-Z Does Not Come Cheap (Especially By 2008 Standards)
Since Jay-Z got the boot from left Def Jam’s executive suite last year, there have been many rumors about his possibly starting up his own label somewhere else. So what happened to those plans? Well, some people are claiming that he hasn’t gotten wind of the new economy of record labels, and that he “wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment. It’s crazy. He wants the labels to basically be his venture capital fund–but unlike a venture cap, they won’t get 50 percent. This is not the ’90s anymore.” And, presumably, it’s not the early 21st century dot-com bubble era either. [NYP]
