Jay-Z to become 'unstoppable' star
- Bang Showbiz
- 29 May 2009
Hip-hop star Jay-Z is believed to be in talks with WMG/Atlantic to establish his own record label
Jay-Z is on the verge of signing a new deal that could make him "unstoppable".
The hip-hop star - who already has a $150 million contract with concert promoter Live Nation - is said to be in talks with WMG/Atlantic to set up his own record label, tentatively called the Carter Music Group, with former managers Lyor Cohen and Kevin Liles.
A source said: "Jay's deal with Live Nation is massive. But if he were to cut a deal with WMG/Atlantic, he'd make even more headlines. Jay-Z, Lyor Cohen and Kevin Liles are all brand names. They're the industry's heavy hitters, and the combination would bring them a lot of attention. They would be unstoppable. Jay himself is the most successful rapper-turned-businessman out there."
Jay - who was president of label Def Jam from 2004 to 2007 - is keen to team up with Lyor and Kevin again, claiming they are a "dream team".
Another source told the New York Daily News newspaper: "Jay obviously wants to work something out with his friends. He wants to get the dream team back together. There have been a few whiffs of a reunion in the past, but only now is something finally starting to happen.
"This is big in hip-hop. These are three of the most powerful men in music, who might be working together, and there's no question the success they'll have as a team will be huge."
However, it has been claimed Jay-Z is also in talks with Sony's Epic Records for the release of his new album 'The Blueprint 3'.
Last year, the rapper signed a deal with Live Nation worth a reported $150 million.
The company acquired the rights to his recordings, merchandise and tours for the next 10 years. The deal also reportedly included financing for a label, music publishing, talent consultations and management services.
The '99 Problems' star also set up Star Roc, a 50/50 partnership between his company Roc Nation and Norwegian songwriting and production duo Stargate.