Friday, December 07, 2007

NEWS: Jay-Z Asking For Too Much Bread?

Technically this is yesterday's news, but Def Jam and Jay-Z might not be able to work out his new deal as CEO and the dispute is over how much he exactly should be getting paid. My prediction: I think Jay-Z's high asking price is a clever trick. Either Def Jam will re-hire him for a 2-3 year period for a preposterous amount of money, or he is free to leave to get a lot of money at Apple for a digital only venture and a whole new way of doing business. The dark horse of a move to Columbia is also still possible of course. If you're Jay-Z you can afford to play hardball like this.

"We hear that contract-renewal negotiations between Universal Music and the rapper-turned-CEO have broken down. "He wanted big, big money that was way out of sync with the realities of today's record business," a source says. Island/Def Jam CEO L.A. Reid and his boss, Doug Morris, are said to have found Jay's demands "excessive" in light of the time he's been spending on tour.[...] Everybody at Universal loves him, but they can't justify paying him the money he wants when so many people have been laid off." (Source)

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