The NY Daily News reports that a very close source to rapper/mogul Jay-Z has confirmed that the star is in negotiations to move to rival label Columbia Records.
The reason for the move could be the recent signing of Jermaine Dupri as the president of the Island Urban music division.
“There isn’t room for two kings at one label,” a source told the Daily News.
If Jay-Z moves to Columbia, he will be joining forces with Def Jam co-founder Rick Rubin, who was appointed as an executive at Columbia in May.
“Rubin is creating a super group of staff,” explained another anonymous source. “So it would make sense that he would want Jay on his side.”
Jay worked with Rubin in the past, collaborating with the legendary producer on “99 Problems” for 2003’s The Black Album.
Interestingly enough, Jay‘s girlfriend, R&B singer Beyonce, is part of Columbia‘s roster while Dupri‘s girlfriend, Janet Jackson, signed to Island two weeks ago.