MTV - JAY-Z: 'THERE'S NO BAD BLOOD WITH REID'

Hip-hop mogul SHAWN 'JAY-Z' CARTER has laughed off reports of hostility between himself and Def Jam chairman ANTONIO 'L.A.' REID, insisting the former colleagues are still close pals. The 99 Problems rapper stepped down from his post as President of Def Jam at the end of 2007, amid reports of a disagreement over money with Reid. But Carter is adamant his departure as CEO of the label has not affected their professional relationship. He tells MTV.com, "It wasn't a hostile thing. I was with L.A. last night. We still gonna continue to work on (projects), just not (with me) as the president of Def Jam. But everything is sweet."