Is Jay-Z Partnering With Apple?
PHOTO: WIRE IMAGE

Now that Jay-Z has left his post as president of Def Jam, rumors are circulating that he and Apple are on the verge of forming a new record label, reports Rolling Stone.

Jay-Z would “develop and attract” urban artists, a similar job he held at Def Jam, while promoting the acts on radio and in the media and giving iTunes some street cred. A spokeswoman for Island Def Jam would neither confirm nor deny the report, but said that Jay-Z is “considering several different options.” Seeing as Jigga is currently under contract for two more albums with Def Jam, it might be some time before he actually joins the supposed label as an artist, unless he has two American Gangster sequels ready to roll. If it happens, the Jay-Z/Apple collabo would mark the computer giant’s true entry into the traditional music business, and could be revealed at Apple’s annual MacWorld Expo on January 14-18 in San Francisco.

I hear Beyonce’s supposed to be a part of this too. We’ll see how it all pans out soon enough…