Jay-Z To Be Named President Of Def Jam
Contributed by AdamBernard:
The New York Times reports that as Universal Music nears a deal to buy out the rap star Jay-Z and his partners from their venture, Roc-A-Fella Records, the company has renewed an unconventional plan to bring the artist into its executive ranks by naming him president of the Def Jam Recordings label, according to people involved in the negotiations. Universal Music, part of Vivendi, is set to pay about $10 million to unravel the partnership in Roc-A-Fella.
