Friday, July 29, 2011

Barry Weiss says Island Def Jam is not in Financial Trouble

By The Hip Hop Writer
Hip Hop Vibe Staff Writer

For a little over a year, 50 Cent hinted towards a possible venture with Def Jam once he left Interscope Records. Rumors had the hip hop titan headed that way, last year. However, it was quickly revealed 50 Cent had established a new distribution deal with the often-overlooked EMI Records.

When asked about Def Jam, 50 Cent said the reason he does not do business with them is because they are going broke. Around the time he was working with LL Cool J, 50 Cent made similar comments. For years, 50 Cent has appeared to have problems with Def Jam, and their artists.

Nearly a month has passed since 50 Cent's comments and now the brass at Island Def Jam is speaking out. Barry Weiss, the head of the Island Def Jam Music Group, said the rumors are completely false. Weiss said Def Jam is currently the top label in hip hop, with music from Kanye West and Rick Ross.

Weiss also pointed out Rihanna's dominance over the years, along with the rise of Frank Ocean. The CEO said the company is currently looking to expand, but still Def Jam is on fire.


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