Rapper 50 Cent has announced he is not renewing his contract with bosses at his longtime record label after years of disagreements with them.

The In da Club hitmaker has announced he is leaving Interscope/Shady/Aftermath Records for independent label Caroline Records.

A statement from the rapper reads: "I have had great success to date with Shady/Aftermath/Interscope and I'd like to thank Eminem and Dr. Dre for giving me an incredible opportunity. I've learned so much from them through the years. I am excited to enter this new era where I can carry out my creative vision."

Rapper Eminem, who is a co-founder of Shady/Aftermath, added, "Both myself and Shady Records are grateful to have had the chance to play a part in 50′s career. Shady simply would not be what it is without 50 Cent. I've developed a great friendship with 50 over the years, and that's not going to change. We know 50 will have success in his new situation, and we remain supporters."

The 38 year old will release Animal Ambition, his first album in five years, in June (13).