Jay-Z Debunks Def Jam Rumors

ImageJay-Z says that while he is currently focused on his new album and tour, he has no plans to leave his day job as President of Def Jam Records.

The Hova spoke to MTV from Africa, saying that, "Everything is good. I know there's been some rumors I was leaving Def Jam. I'm not leaving Def Jam. I signed on for three years, so I don't have any plans to move on. I love working with [Island Def Jam Chairman] L.A. [Reid], I love working with [Island President] Steve [Bartels], I love [Universal Chairman and CEO] Doug [Morris]."

Jay's contract runs until January of 2008 and he still wants to have a hand in the label even if he isn't the President anymore. "I'll do whatever, if it's consulting, whatever it is, but I don't have any plans to go anywhere any time soon."

He also spoke about the pack of superstar Hip-Hop releases on the way later this year, including his own album Kingdom Come (due out November 21). "The funny thing about Def Jam is when people say, 'How can you put out an album and promote [other records] at the same time?' is, the amount of albums that come out of Def Jam and always come out of Def Jam is like 60 albums in a year. There is an extraordinary amount of work; it's not like my album is any different. When people say, 'How can you put an album out?' I say, 'Well it worked for [former Def Jam CEO] Lyor [Cohen]. It made Lyor look like a genius, it should make me look like a genius too!' The best moment in Def Jam's history, well the one that I can recall, is when Lyor was going to sell the company for maybe $80 or $90 million. Then one month Lyor put out [albums] by myself, Ja Rule and DMX, everyone did great. I think there's something to be said about a company and having synergy and having energy and having a bunch of artists come out at the same time. I think that works also."

Despite rumors of hitting the road in the U.S. with Nas and other Rap heavyweights, the Jigga Man says he isn't planning out his next tour while he's still finishing up his world tour (which ends this Sunday in Australia). "It's very difficult to plan another tour while you're on the end of a tour because at the end of the tour you're like, 'Uh, I've got to get home and I've got so many things to do,' " he told MTV. "I don't have any tour plans as far as the States yet."

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