Thursday, January 3,2008 @ 1:25pm
Apple, Jay-Z may launch record label
Rumors had circulated that rap star Jay-Z and Apple would together launch a record label, but a new report from the Boy Genius Report "just about" confirms a deal. Citing a "high-up" source attached to Jay-Z, the deal is said be a go. Jay-Z is allegedly happy with the business model and wants to go ahead with the plan. The implications of Apple forging its own music label would likely send tension thundering through the already-tenuous relationships between the Cupertino-based company and its music label partners selling tracks via the iTunes Store.
In a followup article, the Boy Genius Report suggests that Jay-Z may not run the record label, but would instead reside as an "urban" artist. Such a move would allow Apple to make similar deals with other artists, using Jay-Z's ability to get artists on the radio.