Jay-Z says goodbye to Def Jam and hello to Roc Nation

May 21, 4:12 PMNY Hip-Hop Music ExaminerSamantha Greaves

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Hey big spender.

Change is definitely good, especially when at the end of said change you come out the head honcho. Jay-Z has just confirmed the rumors that have been floating around about him no longer being an artist on Def Jam Records' roster.

The Brooklyn-breed rapper that was formerly introduced to the label when he walked into their offices in the early 90's with a duffel bag full of money looking to buy his way in, has officially bought his way out. It was reported earlier today that Jay-Z took the liberty of buying out the remainder of his business contract with Def Jam; which means an end to any other obligations he may have with the label which includes his highly anticipated upcoming album Blueprint 3.

How much is a recording contract buy out these days you ask? Oh not much, just $5 million dollars of hard cash; you see, money does rule the world. The goal with Jay's buy out was to move his album away from the legendary record label into his founding Roc Nation which is under Live Nation's umbrella.

Jay had this to say about his recent label change in a recent interview,

I can honestly say, working with Doug Morris and LA Reid has been a unique and fulfilling experience and I respect them immensely. I’ve been in the family for almost my entire career. Doug and I spoke directly and had one of the most unique “negotiations” ever. Doug won the toss but, we both won in the end..I thank him for allowing me to be a completely independent artist. Not every artist can say they own or are given the opportunity to own all of their music. -via MTV

It looks like it will be smooth sailing here on out for Jay-Z. This has to be one of the smartest business moves he's made thus far. He has the experience of running a label which comes by way of Roc-A-Fella Records and now he will bring his business learnings from one end of the spectrum to the next. A little birdy told yours truly that once wife Beyonce's contract is met with Columbia, she will be shaking her tail feather right on over to ride with Jay's Roc Nation.

Def Jam on the other hand, is looking quite different these days. They have a list of new artists that are looking to change the label in a whole new way which could mean great beginnings or turbulent endings. If only they could get past that pending lawsuit co-founder Russell Simmons is filing against them.