JAY Z IS OUT AND CHUCK D MAY BE IN

Jay-Z steps down as Def Jam Records president and Dame Dash and Chuck D are in the running to replace him.

Jay-Z and Island Def Jam Records were unable to reach a new deal and the hip hop mogul has decided to step down as president of Def Jam Records. The rapper said, “It’s time for me to take on new challenges.” Jay-Z is still under contract with the label for at least one more album under his current recording contract. The rapper was rumored to have been in talks with Sony Music to assume a senior position with the label.

Island Def Jam Records hasn’t announced who will replace Jay-Z but several names have already come up in relation to the gig. Roc-A-Fella Records founder Damon Dash, Czar Entertainment CEO Jimmy “Henchmem” Rosemond, and Public Enemy frontman Chuck D who previously recorded for the label.

“Til 1998 it was a good run at Def Jam but it was time to move forward and the music business was changing. We came up with PublicEnemy.com which has been like in existence in itself. When we was telling people thatwe have PublicEnemy.com, people was like, ‘Ha what?’ They would say in a minute people are gonna be able to get their music downloadable as opposed to thinking they just gonna go to the store and get it that way.”

Chuck D may have the most insight for the new job as he and Public Enemy have been at the forefront of digital distribution for years. The rapper explained