According to a report in the New York Times there could be some interesting developments at the Universal Music Group with regards the future of Def Jam.
The rumours centre on Universal's ongoing dealings with Jay Z. They are currently negotiating with Jay-Z and Damon Dash to secure complete ownership of their imprint Roc-A-Fella Records in a deal said to be worth $10 million. Once that deal is done Jay Z and Dash are likely to go their separate ways to pursue future projects.
Jay Z is reportedly in talks with both Warner Music (now run in the US by former Universal exec Lyor Cohen) and Universal Music regarding the setting up of a new label. Although rumour had it Jay Z was close to doing a deal with the latter to set up S Carter Records (Jay Z's real name is Shawn Carter), the New York Times reckon Universal is considering giving Jay Z the top job at legendary label Def Jam, which remains vacant following the departure of former boss Kevin Liles.
Somone of Jay Z's profile at the top of a major label like Def Jam could prove to be very interesting.