Jay-Z Leaves Island/Def Jam to Create Digital Music Label at Apple Inc.

By Steve

Steve Jobs just keeps one-upping himself in the tech and pop cluture “revolution” department.

BGR is reporting that Jobs all but stole rapper Jay-Z from his position as president of Island Def Jam Music Group to join Apple in the creation of a paradigm-transforming digital msuic label for Apple’s iTunes program.

“BGR says they’ve “confirmed” that Apple is launching a record label with Jay-Z, who’s set to step down from Def Jam. Jay-Z and Jobs are both brilliant businessmen, and the move would make sense on a number of levels: The labels almost view iTunes as a competitor now, the industry landscape is rapidly transforming, and whoever finds the magic formula for a new kind of label/distribution firm stands to make a lot of money as they establish the new paradigm of the industry.” [gizmodo]