Rumors that Jay-Z is setting up his own record label are once again making headlines and talk of who owns the name "Jay-Z" is in the middle of it all.
The NY Daily News has been fueling rumors of a breakup between Jay-Z and Damon Dash for months now, citing the friendship between the two has fizzled. However, Dash has come out publicly to deny the rumor, reconfirming their friendship and pledging allegiance to Roc-A-Fella Records.
In today's edition, gossip columnist Ben Widdicombe is saying a "source" close to Jay-Z confirmed that Jay-Z has tapped Warner Music to back his new label project. The label, according to Widdicombe's source, will be called "Shawn Carter" -- Jay-Z's birth name.
Just last month on the DJ Big Mike Cruel Summer 2K4 mix CD, Foxy Brown announced that she signed to S. Carter Records for $75 million.
"...the whole hood wanna know what up with Fox deal / S. Carter ni99a; 75 mil..."
The Warner Music connection is obvious, considering Lyor Cohen, a longtime business partner and colleague of Jay-Z, is now at the helm of the conglomerate. Cohen has been quoted in the past for saying that Jay-Z, not Dame, is the fuel behind Roc-A-Fella and is said to have offered Jay-Z his own label in the past behind Dame's back.
However, the story goes deeper than this. An unnamed source has told that the reason for the new label name, "Shawn Carter," is because Roc-A-Fella legally owns the name "Jay-Z." This theory resonates with some considering the Brookly rapper announced the death of the moniker "Jay-Z" and birth of "S. Carter" on his song, "99 Problems." Word has it that a new album will be released in less than two years under the rap name, S. Carter.
No official announcement or comment has been made by Roc-A-Fella Records or Jay-Z.