What do you get when you take the greatest living rapper and the
greatest hip hip producer. You get one hot album. Sign the petition
and lets make it happen.
by rocafan on 12/08/2004 09:41:00 PM
Official:Jay-Z Named Def Jam President
Source:allhiphop.com
whew, Jay is still gonna be involved in Roc
After finally reaching a deal to sell the remaining portion of Roc-A-Fella Records to Island Def Jam for $10 million dollars, Jay-Z was named president of the legendary label founded by Rick Rubin and Russell Simmons in 1985.
"I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella,” Jay-Z said. “LA Reid and the Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community."
Simmons said that Jay-Z's appointment to president would help the Def Jam brand name in the marketplace.
“Jay-Z running the Def Jam label is going to be great,” Russell Simmons told AllHipHop.com. “I couldn’t be happier; this is a great honor for all of those who laid the groundwork for Def Jam. Jay’s involvement is a great thing for the Def Jam brand.”
Jay-Z will report directly to Antonio “LA” Reid and will continue to run Roc-A-Fella Records as part of the deal.
Reid acknowledged Jay-Z’s business acumen and his ten-year track record of running the Roc-A-Fella label.
“We are fortunate that he has agreed to take over as president & CEO of Def Jam Recordings,” Reid said. “I can think of no one more relevant and credible in the hip-hop community to build upon Def Jam's fantastic legacy and move the company into its next groundbreaking era."
The appointment is effective January 3, 2005, with Jay-Z operating out of Island Def Jam’s New York offices.