Report: Jay-Z Shopping New Label
March 20, 2008
| RB Hip-Hop
By Hillary Crosley, N.Y.
Jay-Z is shopping a new label called the “Carter Music Group,” but can’t find a home because the asking price is too high, according to published reports.
The MC is seeking a $100 million investment to cover the overhead, development and digital investment, according to the New York Post.
This rumor falls on the heels of Jay-Z announcing a partnership with the newly formed Translation Advertising company and it’s owner, urban marketing businessman Steve Stoute.
A spokesperson for Jay-Z had no comment at deadline.
Jay-Z left his position as Def Jam’s president last December, but MC is still signed to Def Jam Records as an artist.
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