Hip Hop artist and businessman Jay-Z has confirmed that he is no longer with Def Jam Records after his long duration there. Jay-Z, born Shawn Carter, called his time at Def Jam “a unique and fulfilling experience” and will be moving forward with other projects.

Reportedly, Jay-Z owed the label one more album and bought himself out of his contract for $5 million dollars.

Since leaving, after more than a decade and in addition to being CEO for three years, Jay-Z will be pursuing his contract with Live Nation that he signed on for in 2008 for $150 million to release future albums, tours and to sign on new acts for his label Roc Nation.

While at Def Jam, Jay-Z was responsible for signing on acts such as Pop star Rihanna, and R&B singer and songwriter Ne-Yo.

In related news, his album “Blueprint 3″ is stated to be the first album to released through the Live Nation deal and is expected to be released later this year or early 2010.

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