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from NY Post

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Jay-Z wants his own label, but can’t find a home for it. Jay-Z, who left his position as president of Def Jam to be an entrepreneur last year, is apparently asking “way too much,” an insider said. “He wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment. It’s crazy. He wants the labels to basically be his venture capital fund – but unlike a venture cap, they won’t get 50 percent. This is not the ’90s anymore.” A rep for Jay-Z, who is branching out into hotels and bars, called this account “rumors.”

Miss NJ:  I believe this story based on stuff I’ve heard from people I know who know.  Recording studios are no longer personal piggy banks and the simple fact is Jay-Z has not proven himself a successful label head, in spite of the hype.  His only successes at Def Jam were Ne-yo and Rihanna and they are moderate successes considering all the overhead Rihanna costs them.  He did nothing with Chrisette Michelle’s album which was one of the best to drop this year.  He failed to promote what was one of LL’s best albums in years.  He recorded an album and took money from his own artists to spend on himself.  I won’t give diddley-squat either.

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