Musicrooms.net: Jay-Z Denies High Cash Demand Rumours

Jay-Z Denies High Cash Demand Rumours
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CMU on 26 March, 2008
 
As previously reported, the hip hop star resigned as President of Universal's 
Def Jam division at the end of last year, and has since been rumoured to be in 
talks with Warner Music and Apple Computers about launching a new music company,
 but neither venture has come to fruition. That had led to rumours on US gossip 
site PageSix.com that negotiations had stalled because of Jay's demands. They 
quoted a source thus: "[He wanted] way too much. 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 per cent". 
But Jay's people have denied the rumours, though no word on any potential Carter
 Music Group launch as yet.