Michael Endelman
December 20, 2004 AT 05:00 AM EST

On Jan. 3, ”retired” rapper Jay-Z will take over as president of Universal Group’s Def Jam records, a recording studio-to-boardroom move that will send ripples throughout the industry. Here’s what the big deal has already wrought.

Harlem MC Cam’ron has aired his intentions to leave the Def Jam empire. The reason? It’s rumored that he and Jay-Z aren’t exactly friends. And don’t expect R. Kelly to sign with Def Jam anytime soon….

After signing the contract, Jay-Z announced his intentions to bring Foxy Brown, who hasn’t released an album since 2001, to Def Jam….

A day before Jay-Z’s deal, it was leaked that Universal would buy out Roc-A-Fella records (home to Kanye West), the label Damon Dash founded with Jay-Z and Kareem ”Biggs” Burke. But don’t cry for Dash and Co. They’re starting a new label, Roc For Life, with some former Roc-A-Fella artists. Let the Victoria Beckham bidding begin.

You May Like