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Jay Z officially exits Def Jam
Hip-hop royalty Jay-Z has officially left longtime label Def Jam. The rapper, producer and entrepreneur was at first an artist, then label president, then artist again before he struck a 360 deal with Live Nation last year. He reportedly owed Def Jam one more record, but likely bought the contract out.
"Doug [Morris] and I spoke directly and had one of the most unique 'negotiations' ever," Jay-Z told RapRadar. Morris is the CEO of Universal Music Group, the parent company of the hip-hop label. "I thank him for allowing me to be a completely independent artist. Not every artist can say they own or are given the opportunity to own all of their music."