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Jay-Z Close to Sony Deal— or Maybe Warner

Conflicting reports leave it unclear where former Def Jam artist will move

By Evann Gastaldo,  Newser Staff

Posted May 28, 2009 2:12 AM CDT

(Newser) – Following his departure from Def Jam, Jay-Z is close to making a deal with a new label—the question is, which one? Sources tell Billboard a deal with Sony’s Epic Records “is 95% complete,” while the New York Daily News reports a deal with Warner Music Group/Atlantic is in the works. The rapper has close ties to execs in both camps, and has reportedly held secret meetings with both.

“This is big in hip-hop,” says a source of Jay-Z’s potential team-up with former managers Lyor Cohen and Kevin Liles at Warner. “These are three of the most powerful men in music.” Also up for debate is the release of Jay-Z’s The Blueprint 3: The Daily News says he’ll stick with Live Nation, with which he cut a deal last year; Billboard says Epic is more likely.

Jay-Z performs at the grand reopening of the Hollywood Palladium in Los Angeles.
Jay-Z performs at the grand reopening of the Hollywood Palladium in Los Angeles.   (AP Photo/Matt Sayles, file)
Jay-Z and his wife, Beyonce Knowles, attend the premiere of Cadillac Records in New York. The two will both be under the Sony umbrella if Jay-Z's deal with Epic Records goes through.
Jay-Z and his wife, Beyonce Knowles, attend the premiere of "Cadillac Records" in New York. The two will both be under the Sony umbrella if Jay-Z's deal with Epic Records goes through.   (AP Photo/Evan Agostini, file)
Rapper Jay-Z performs at the grand reopening of the Hollywood Palladium in Los Angeles on Wednesday, Oct. 15, 2008.
Rapper Jay-Z performs at the grand reopening of the Hollywood Palladium in Los Angeles on Wednesday, Oct. 15, 2008.   (AP Photo/Matt Sayles)
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Jay-Z, Lyor Cohen and Kevin Liles are all brand names. They're the industry's heavy hitters. They would be unstoppable. Jay himself is the most successful rapper-turned-businessman out there - An industry insider

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