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Mar 20th 2008 7:28 am
Jay-Z Wants His Own Label
Jay-Z wants his own label, but can't find a home for it.
Jay-Z, who left his position as president of Def Jam to be an entrepreneur last year, is apparently asking "way too much," an insider said. "He wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment.
It's crazy. He wants the labels to basically be his venture capital fund - but unlike a venture cap, they won't get 50 percent.
This is not the '90s anymore." A rep for Jay-Z, who is branching out into hotels and bars, called this account "rumors."
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