Jay-Z doesn't plan to leave post at Def Jam

By: Yves Erwin Salomon

Hip hop mogul Jay-Z plans to release a new album, Kingdom Come, on November 21st, but the rapper doesn't plan to leave his post as president of Def Jam Records. He told MTV.com, "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)."

The rapper's contract runs through 2008 but he shared that even if he were to leave the presidency he would continue on as a consultant.

Some critics have voiced concern that in addition to Jay-Z's new album, Def Jam Records plans to release new albums by Young Jeezy, Nas, Ghostface Killah, and Fabolous in December.

Jay-Z explained, "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 rapper added, "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....When No Limit had their run and Bad Boy had their run and Death Row had their run it was more than one artist doing it. So I just think it makes only logical sense."

Jay-Z is currently wrapping a world tour but his close friend Sean "Diddy" Combs is already talking about putting together a tour for next year that would include Jay-Z, Diddy, Nas, and Busta Rhymes.