rickrubin.jpgLegendary producer and co-founder of Def Jam records, Rick Rubin has been offered a co-chairmanship at Columbia Records according to the New York Times. Rubin, who contributed to three of the five albums up for album of the year Grammy's this year, has worked with worked with some of the biggest names in music. The Times reports that whether Rubin can accept the position depends on his ability to negotiate his way out of his current contract with Warner Music Group which is currently the home of his American Recordings label. According to sources, Warner is reportedly open to letting Rubin out of his contract so he can pursue the executive position. As co-chairman, Rubin would be expected to participate in signing artists and creating marketing campaigns, while working closely with current Columbia Chairman, Steve Barnett. Under Barnett's leadership Columbia was ranked the No. 1 label in the music industry for sales of new releases in 2006.