Jigga bossar på Def Jam
Under LA Reid förstås, men endå!
The official word to end all speculation has finally come down - Shawn "Jay-Z" Carter is now the president and CEO of Def Jam Recordings.
The announcement was made today by Antonio "LA" Reid, Chairman of The Island Def Jam Music Group, to whom Jay-Z will report.
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"After ten years of successfully running Roc-A-Fella," said Mr. Reid, "Shawn has proven himself to be an astute businessman, in addition to the brilliant artistic talent that the world sees and hears. We are fortunate that he has agreed to take over as president & CEO of Def Jam Recordings. I can think of no one more relevant and credible in the hip-hop community to build upon Def Jam's fantastic legacy and move the company into its next groundbreaking era."
Jay-Z, who will be known as Mr. Shawn Carter to his new employees, will take the helm on January 3, 2005 and will be based out of Def Jam's New York headquarters. Besides running Def Jam, Carter will also continue to run Roc-A-Fella Records, now 100% owned by Def Jam after a $10 million purchase this week.
"I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella, said Mr. Carter. "LA Reid and the Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community."
Shawn Carter will bring with him a wealth of business experience from both the artist and executive perspective. Jay-Z and his Roc-A-Fella artists have dominated the rap industry since 1995. Carter has also spawned a diverse portfolio of successful brands including the Rocawear clothing line, films (Fade to Black, Backstage, Streets Is Watching, State Property), a nightclub (40/40 Club) and a successful sneaker line (Reebok's S. Carter shoe collection). Moreover, Jay-Z has founded three philanthropic organizations, including The Shawn Carter Scholarship Fund, Team Roc, and the annual Jay-Z Santa Claus Toy Drive.
As head of Def Jam, Jay-Z will oversee the label's entire roster and imprint brands which include multiplatinum selling rapper Ja-Rule, Capone & Noreaga, LL Cool J, Ghostface, Shyne, Method Man and Joe Buddens.
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