West Coast Connection Forum
DUBCC - Tha Connection => Outbound Connection => Topic started by: Leggy Hendrix on December 08, 2004, 08:47:15 AM
-
According to published reports, Island Def Jam has acquired the remaining 50% stake in Roc-A-Fella Records for $10 million dollars.
The buyout gives Island Def Jam 100 % ownership of the hit making label, which helped power parent label Universal to a whopping 28 Grammy nominations – 10 of which came from Roc-A-Fella artist Kanye West, while Jay-Z notched three.
In 1997, Island Def Jam had already acquired a 50% stake in Roc-A-Fella Records for just $1.5 million dollars.
Roc-A-Fella executives renegotiated their deal several years ago and extended their contract with Island Def Jam for $20 million dollars, bringing the final selling price to just over $30 million dollars.
Roc-A-Fella, which boasts such quality artists as Beanie Sigel, Freeway, State Property, Peedi Crack, Noreaga, Nicole Wray, Memphis Bleek and others, will be folded into the Island Def Jam label.
Island Def Jam is negotiating with Jay-Z about taking over as president of the legendary label, while Dash is planning a new venture.
In related news, Jay-Z’s hot streak continues, despite going into “retirement” last November.
The rapper’s “Mash Up” album with Linkin Park, Collision Course, will land at the top of Billboard’s Top 200 Charts, giving Irish rockers U2 the boot from the #1 position.
Collision Course moved over 350,000 copies the first week in stores, moving U2’s How To Dismantle An Atomic Bomb to the #2 position, while Eminem’s latest effort Encore will drop to #3.
your thoughts?
-
I seen this comin' months ago....damn jay z cant be stopped! I dont even like jay that much and I cant denigh his strangle hold on the game
-
I don't understand why he just sold his empire that he put so much time and effort into
-
good to see jay-z at #1 again ;) good news i guess...
-
lol @ jay-z never leaving the game
"So I'ma hit y'all, with these last two and split
and leave niggaz with nothing but my influences-es"97
-
So Roc-A-Fella is no more?
-
still laughin at him sellin it to himself...
-
still laughin at him sellin it to himself...
-
So Roc-A-Fella is no more?
from what i understand of it now, Rocafella is now completely owned by Def Jam, so Dame Dash and Biggs are no longer involved at all...the name will remain, but it might mean certain artists are dropped...