Jay-Z Buys Out Def Jam Contract?
It seems as though Jay-Z is eager to move on from Def Jam. Sean Carter has reportedly bought back his last remaining album on the label.
As the Jiggaman prepares to transition to his new Roc Nation home at Live Nation, there are whispers that he is not sticking around to release the eagerly-anticipated Blueprint 3 on the label he once presided over. Instead, HITS Daily Double reports that Hov purchased back his eleventh studio album on his Def Jam contract for the price of $5 million.
Jay-Z signed a $150 million deal with concert giant Live Nation in 2008 that includes at least three albums and tours spanning over the next 10 years. He has recorded nine albums for Def Jam since he signed in 1997.
The Blueprint 3 is due by the end of 2009.