Jay-Z and Beyonce have been the new Bonnie and Clyde for quite some time. Rumors have been constantly circulating about them getting married or breaking up and getting back together. Well here is a new one. According to mediatakeout.com, Jay-z will be leaving his position at Def Jam to create a new label with Beyonce. “It’s a done deal. Jay-Z already has Beyonce and Matthew Knowles on board,” said the source. “She’ll be finishing up her contract [with Sony], and I expect that she’ll sign on to the new label shortly afterwards.” Beyonce’s contract with Sony is scheduled to finish probably sometime this fall as she finishes up her third and final album under the label. It’s not clear which major label will house the new label but the insider says it’s not going to be Island Def Jam. “Jay-Z brought the idea to Def Jam first but they thought he was asking for too much money,” said the source. “Now they’re shopping the deal around to the other majors and to Apple [the creator of iTunes] who is very interested in doing business.
by David Dennis & Robby Uppal
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