Jay-Z Wants ''Way Too Much'' For Carter Music Label
DJRudebway said
23:59 03/23 2008
Thursday, 20 March 2008 16:13
Jay-Z is out to capitalize on his label, shopping the Carter Music Group around for a home, but he may have over shot this one. According to the New York Post, the music mogul is asking "way too much," for the imprint, an insider told Page 6. "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."
Jay-Z stepped down from his post at Def Jam over a money dispute in December of last year when he and Island Def Jam chief L.A. Reid couldn't come to a salary agreement.
When news of Jay starting his own label first hit, it was said that it would be under Warner Music Group. According to Def Jam, the company was never interested in housing the Carter Music Group anyway.
"Starting a record label from scratch is very difficult. If Warner Music wants to do it, better them than us," a Def Jam exec said last month.
But Jay's new venture remains without a home.
Hov may also be in talks with Apple Inc. There has been ongoing speculation on a possible union between the hip-hop mogul and the tech giant for the purpose of a new label.
Jay-Z stepped down from his post at Def Jam over a money dispute in December of last year when he and Island Def Jam chief L.A. Reid couldn't come to a salary agreement.
When news of Jay starting his own label first hit, it was said that it would be under Warner Music Group. According to Def Jam, the company was never interested in housing the Carter Music Group anyway.
"Starting a record label from scratch is very difficult. If Warner Music wants to do it, better them than us," a Def Jam exec said last month.
But Jay's new venture remains without a home.
Hov may also be in talks with Apple Inc. There has been ongoing speculation on a possible union between the hip-hop mogul and the tech giant for the purpose of a new label.