Rumor: Apple and Jay-Z teaming up to create record label?
Boy Genius Report reports (odd wording) that Jay-Z, who has recently retired as President of Def Jam Records, is apparently entering into a deal with Apple to start an iTunes record label. While the topic of an iTunes record label has been floating around for some time, it would seem that now would be the right time for Apple to launch their own label.
What’s interesting is that until around now, it would’ve been impossible for Apple to start their own label. The debacle between Apple Computer and Apple Corps. has begun to settle, and according to Paul McCartney, The Beatles’ collection of music will be on iTunes in the first quarter of 2008. This decision could be one of many settlements between the Apples, another of which apparently would be to allow Apple Computer to pursue a place in the record industry, at least more of a place then they have made with iTunes. According to Charles in the BGR comments:
“Apple Corps, the Beatles’ company, has an agreement since 1991 with Apple Inc. that Apple Inc. can never get into the music industry. They tried to sue Apple Inc. over iTunes, but the judge ruled in Apple Inc.’s favor. If Apple Inc. were to start a record label, that would be crossing the lines of their agreement.”
If the rumors are true, this would signify an entirely new venture by Apple, and perhaps would trump many, if not all of the other announcements at this year’s Macworld.
June 11th, 2008 at 6:24 am
if the things works fine that would be great deal