Roc-A-Fella Sold To Def Jams

More celebrating for Universal Music group, after Kanye West dominated the Grammy Awards Nominations yesterday grabbing 10 nominations including nods for Album of the Year for "The College Dropout" and Song of the Year, the media giant has acquired 50% of Roc-A-Fella Records under Island Def Jams. The New York Daily News reports that the $10 Million deal gives Island Def Jam complete ownership of a label that has provided it with some of its biggest selling acts, including Beanie Siegel, Cam'Ron and Kanye West. There have been reports of Jay-Z becoming the president of Def Jams but the deal hasn't been finalized. About 10 employees of Roc-A-Fella received the pink slip and who knows if there are more to come.

Shawn "Jay-Z" Carter and Damon Dash will continue with their other ventures including Dash Films, Roc-A-Wear Clothing and S. Carter Records respectively.

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