Rumors are flying around that Jay-Z and Apple are about to start a record label, and it's going to be announced at MacWorld. Boy Genius Report says they've even "confirmed" it.
Jay-Z last month stepped down as President of Def Jam Records, which is owned by Universal Music Group. In a statement announcing his departure, Jay-Z said, "It's time for me to take on new challenges."
Earlier last month, in an interview with Billboard, Jay-Z said this about leaving Def Jam, "It's really about trying to invest in the future, trying to invest in maybe coming up with a new model. Because going in hard making records with artists and throwing those records into a system that's flawed is not exciting for me."
"It's not the music; people ingest music the same way," he continued. "It's just that the model of selling CDs has changed. So doing things the typical way is not in the best interests of anyone and not exciting for me.