The latest news churning out of the rumor mills reportedly has Def Jam in the hole for $100 mil. The founding Hip Hop label is experiencing financial woes reportedly after a lackluster year in sales under the helm of former president Shawn Carter. The rumor, leaked by Mahogany Girl of MahoganyGirl.blogspot said and I quote,
The insider says Def Jam needs some BIG selling records ASAP to start decreasing the labels debt.Bottom line? Rick Ross better do some TRILLA numbers
If this news comes out to hold some truth then the pundits will line up on either side of the fence with some saying Jay is a genius because he left before the “Building came tumbling down” while other will attribute the hard times to Jay’s mismanagement of the House that Russell built and the expenditure of the majority of the marketing budget for projects that never really gained legs and took off like Clark Kent.
Editor’s Note: Either way they got a sale from me when Nas drops.