After months of speculation surrounding the future of his position, rapper/executive Shawn "Jay-Z" Carter announced today (December 24) that he will be stepping down from his job as Def Jam's president when his contract expires at the end of 2007.
In a new interview with EW, Jay-Z responds to recent rumors that the re-negotiation of his presidential Def Jam contract has come to a standstill because he requested an unrealistic amount of money to stay at the company.
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