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Old 12-09-2004, 01:04 PM   #1
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12/8/2004 Roc-A-Fella...SOLD! Cam'Ron Leaving Def Jam...Jay Z New Owner?

Dec 8 - Breaking News Dec 8 JayZ, Dame Dash Sell Roc-A-Fella Records;Jay Named Def Jam Prez

It looks like it's the end of a dynasty.

After 10 years of releasing some of hip-hop's most influential records, Jay-Z, Damon Dash and Kareem "Biggs" Burke have sold their remaining 50 percent stake of Roc-A-Fella Records to its parent label,

Island Def Jam, a Def Jam spokesperson said.

The imprint was sold for $10 million, according to reports. As part of the deal, Island Def Jam will retain the entire Roc-A-Fella roster, including multiple-Grammy nominee Kanye West (see "Kanye Scores 10 Grammy Nominations; Usher And Alicia Keys Land Eight"), Memphis Bleek and Beanie Sigel.

Jay-Z has also been named president and CEO of Def Jam Records. As part of the deal, Jay will continue to run Roc-A-Fella. There's no word yet on whether or not he will be launching his own imprint, S. Carter Records, under the Def Jam umbrella.

As for Dash, it's not clear what his next move will be. However, the consummate businessman had said a few months ago that selling the label was something he was open to (see "Label Home Of Kanye, Jay-Z Closing? No Way, Insists CEO").

Jay, Dash and Burke recently renewed their contract with Def Jam for a reported $20 million. They brought Roc-A-Fella to the label in 1997 and sold the initial half-stake to Def Jam at that time for $1.5 million.

Roc-A-Fella Records launched in 1994 as an independent label. Its first full-length release was Jay-Z's 1996 debut, Reasonable Doubt.

Rashaun Hall


Link http://www.mtv.com/news/articles/14...?headlines=true

On Another Note

Harlem-based rapper Cam'ron has reportedly been granted a release from Def Jam Records. The rapper just released his fourth album, Purple Haze, on Tuesday, December 7th, on Roc-A-Fella/Def Jam Records but the rapper told a New York urban radio station (WQHT) that Island Def Jam Music Group CEO LA Reid recently granted him a release from the label without the rapper having to deliver the three remaining albums due under the five-album deal he signed in 2001. Purple Haze is Cam'ron's second CD since joining the Def Jam roster through Roc-A-Fella Records in 2001. The rapper's first release for the label was 2002's Come Home With Me, which was certified platinum for sales of one million copies.

Label woes are nothing new for Cam'ron. Following the release of his gold-certified debut, 1998's Confessions Of Fire, Epic Records terminated its distribution agreement with Lance "Un" Rivera and his Untertainment imprint, which was Cam'ron's label home. Cam'ron subsequently signed directly with Epic and released his sophomore set, S.D.E., in 2000. After the lackluster sales of S.D.E., Cam'ron negotiated a release from Epic and inked a deal with Roc-A-Fella/Def Jam Records.
Calls to Roc-A-Fella Records and Def Jam Records were not returned at press time.
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