Roc-A-Fella Sold To Island Def Jam

According to published

reports, Island Def Jam has acquired the remaining 50% stake in Roc-A-Fella Records

for $10 million dollars.

The buyout gives

Island Def Jam 100 % ownership of the hit making label, which helped power parent

label Universal to a whopping 28 Grammy nominations – 10 of which came

from Roc-A-Fella artist Kanye West, while Jay-Z notched three.

In 1997, Island

Def Jam had already acquired a 50% stake in Roc-A-Fella Records for just $1.5

million dollars.

Roc-A-Fella executives

renegotiated their deal several years ago and extended their contract with Island

Def Jam for $20 million dollars, bringing the final selling price to just over

$30 million dollars.

Roc-A-Fella, which

boasts such quality artists as Beanie Sigel, Freeway, State Property, Peedi

Crack, Noreaga, Nicole Wray, Memphis Bleek and others, will be folded into the

Island Def Jam label.

Island Def Jam

is negotiating with Jay-Z about taking over as president of the legendary label,

while Dash is planning a new venture.

In related news,

Jay-Z’s hot streak continues, despite going into “retirement”

last November.

The rapper’s

“Mash Up” album with Linkin Park, Collision Course, will

land at the top of Billboard’s Top 200 Charts, giving Irish rockers U2

the boot from the #1 position.

Collision Course

moved over 350,000 copies the first week in stores, moving U2’s How

To Dismantle An Atomic Bomb to the #2 position, while Eminem’s latest

effort Encore will drop to #3.