After months of speculation,
it's official: Harlem's Cam'ron has parted ways with Roc-A-Fella/Island Def Jam
for Asylum/Warner Music Group.
The deal makes Cam’ron
the first non-southern act signed to Asylum.
"Cam's going drop his
album as well as release other records through his Diplomat Records label,"
a source that wished to remain anonymous told AllHipHop.com.
The move to Asylum could
help Warner Music, a privately held entity, reach their goal of raising $750
million in an upcoming Initial Public Offering (IPO) of company stock.
In addition to Mike Jones
moving over 180,000 copies of his debut Who Is Mike Jones, Warner also
recently acquired of piece of Sean "P. Diddy" Combs' Bad Boy Entertainment
for $30 million.
Cam’s previous home,
Roc-A-Fella Records, was sold to Universal in December of 2004 for almost $10
Certain artists like Kanye
West and The Young Gunz remained on Roc-A-Fella, which is being guided by Jay-Z,
who also serves as President of Island Def Jam. Others, such as Beanie Sigel
and Noreaga were assigned to Damon Dash's Damon Dash Music Group.
Sources stated that Cam’ron,
platinum selling artist, was unhappy with the promotion of his album Purple
Haze and was fielding offers shortly after the sale of Roc-A-Fella.
No release date has been
issued for Cam'ron's upcoming untitled Asylum debut.
In related news, Dip Set
member Jim Jones landed a job as A&R at Warner Music, where he will spot
new talent for the label.
Jones also recently teamed
with The Violator All-Star DJ’s, founded by Violator mogul Chris Lighty
and DJ Scrap Dirty, to market and promote his latest Dip Set ventures.
“Scrap Dirty and I have been politicking back and forth on what the next
moves we are going to make on the streets,” Jones said. “The Violator
All Star DJ Coalition has a strong presence in the radio and urban market place
nationwide. All the artists whose music they embraced has spread like the plague
and with me being deep rooted in the streets; this will be a very beneficial
partnership and avenue for me and my music, and product.”
Scrap Dirty said the relationship
would help strengthen the Diplomat brand.
“This can only help
Jim Jones and take him to the next level, reaching people in the clubs, on the
streets, and reaching the masses," Scrap Dirty said.
Jim Jones’ new album Harlem - Diary of Summer hits stores this
summer on Koch.