Despite rumors of Jay-Z leaving his presidential position at Def Jam Recordings, in a recent Hot 97 interview the Brooklyn rapper denied the industry gossip.
“My three-year contract is up soon,” he explained on Friday, adding that although he hasn’t renewed it, he plans to.
For the past few weeks, industry insiders have been buzzing about Jay’s possible move to Columbia Records (currently run by Def Jam co-founder Rick Rubin), but he denied that as well.
“I guess Rick Rubin is [at Columbia] and we’ve got a relationship. But I haven’t talked to Rick since he started at Columbia. I called him to say congratulations. But I’ve learned to leave the possibility open. Sometimes rumors spark real things.”
Additionally Jay also said that he isn’t working on any new material in the near future, despite guest cameos on several singles and remixes, notably R&B singer Rihanna’s “Umbrella” and Amy Winehouse’s “Rehab (Remix).”