News: Diddy Advises Jay-Z In "Blueprint 3" Deal

Monday, Jun 1, 2009 9:37AM

Written by Cyrus Langhorne

Hip-Hop mogul Sean "Diddy" Combs has reportedly spoken with Jay-Z and persuaded the rap free agent to make a business deal with Warner Music Group.

While Diddy has yet to confirm the latest report, the deal would allow Jigga to release his upcoming album The Blueprint 3 under former Def Jam head Lyor Cohen's watch.

Looks like Jay-Z's new Blueprint 3 album will go to Warner Music Group after all, though his Roc Nation label is still headed to Sony. Our old pal Roger Friedman reports that Warner had Jay-Z's pal Sean "Diddy" Combs convince him at a recent Lakers game to re-join former IDJ colleague Lyor Cohen for the album, which he bought back from UMG for $5 million. It's apparently a one-off deal, just for this recording. (Hits Daily Double)

Reports last week said Jay would likely create Carter Music Group via Warner.

"Jay knows Lyor and Kevin [Liles] from back when they all worked together at Def Jam, and he obviously wants to work something out with his friends," says our insider. "He wants to get the dream team back together. There have been a few whiffs of a reunion in the past, but only now - and very privately - is something finally starting to happen...This is big in hip hop. These are three of the most powerful men in music, who might be working together, and there's no question the success they'll have as a team will be huge." (New York Daily News)

Initial claims said he would be joining forces with Sony, the label home of his wife, Beyonce.

Jay-Z is close to signing a deal that will bring his future recordings to Sony, Billboard sources confirm. The deal, which will link Jay-Z's Roc Nation releases with Sony's Epic Records for distribution, "is 95% complete" according to people familiar with the ongoing negotiations. A formal announcement is expected in the coming weeks. (Billboard)

The rap mogul confirmed his departure and Def Jam buy-out last week.

"I can honestly say, working with Doug Morris and LA Reid has been a unique and fulfilling experience and I respect them immensely," Jay said in an interview. "I've been in the family for almost my entire career. Doug and I spoke directly and had one of the most unique 'negotiations' ever. Doug won the toss but, we both won in the end...I thank him for allowing me to be a completely independent artist. Not every artist can say they own or are given the opportunity to own all of their music." (Rap Radar)

[For more on your favorite rappers from the Big Apple peep SOHH NYC]

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