Jay-Z Wants Big Raise From Def Jam

Now that Jay-Z’s contract with Def Jam is up at year’s end, the rapper turned businessman wants more money than chairman L.A. Reid is willing to pay. “Jay is asking for several million as a base salary,” one insider tells The New York Daily News, “plus big bonus ‘bumps’ on records that do well. L.A. isn’t going for it. They’re miles apart.”