Jay-Z Getting Fired From DefJam?

Reports of excessive demands and a supposedly jealous boss have led to rumors that Jay-Z may be fired as CEO of Def Jam records.

The superstar rapper/businessman has worked two years for L.A. Reid, chairman of Island/Def Jam, and Jay-Z’s contract is up for renewal. 

The company has done well since Jay-Z’s involvement began, due to his huge drawing power of young talent, like Rihanna and Ne-Yo.  Also, the rapper is no longer retired and is making money for the company as an artist.

Despite Jay’s solid performance as CEO, a witness to the inner workings of Def Jam told the New York Daily News newspaper: “Jay is asking for several million as a base salary plus big bonus ‘bumps’ on records that do well. Reid isn’t going for it. They’re miles apart.”

The source claimed that L.A. Reid has had growing concerns because of Jay’s incredibly hectic schedule, which includes ownership and responsibility of nightclubs, Armadale vodka, Rocawear clothing and the New Jersey Nets.

Reports of jealousy by Reid may also be putting pressure on him to can the superstar. “When Jay walks into a meeting, he sucks the air out of the room,” a source for the New York Daily News said, continuing, “…even without trying. At the Rock and Roll Hall of Fame awards, Jay and L.A. were sitting at the same table. But it was like L.A. was invisible.”

Despite all of these reports about upcoming trouble for Jay-Z, Reid seems adamant that nothing is wrong.  “We really love Jay,” he reported. “He’s so important to our company, there’s not much we wouldn’t do to keep him here, money being the least of them.”

Reid summed up the reports by saying, “People at other labels may wish there was trouble. If you put the two of us in a room with an artist we want, we will sign that artist. It’s very hard to turn us down. I hope to work with him for many, many years. He’s magical. I need him.”

Those words sound more inviting and cordial than they do hostile.  Still, there is no saying that a press statement can’t be a lie

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