JAY-Z TO PART WITH RECORD LABEL?

JAY-Z TO PART WITH RECORD LABEL?

Hip-hop mogul SEAN 'JAY-Z' CARTER is parting ways with his record label, according to reports. The rapper is rumoured to be leaving his position as CEO and president of Def Jam following the appointment of superproducer/performer Jermaine Dupri as the president of the label's urban music division in February this year (07), and is alleged to be in negotiations with Columbia - home to Carter's girlfriend Beyonce. A source tells the New York Daily News, "There isn't room for two kings at one label. "Why would Island bring in another power-hitter urban guy?"