Author Topic: Jay-Z Wants ''Way Too Much'' For Carter Music Label ($100 million ) (Read 350 times)

Elano · « **on:** March 20, 2008, 01:46:54 PM »

Now that he's no longer with Def Jam, Jay-Z has been shopping his own Carter Music Group around for a home. But inside reports say that he is asking for more than his upstart label is worth.

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."

As SOHH previously reported, 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.

"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.

As SOHH previously reported, 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.