Jay-Z denied the rumors that he was leaving his position at Def Jam for Columbia Records. Columbia Records new co-chairman is legendary mogul Rick Rubin, who collaborated with Jay-Z on his 2003 LP, The Black Album.
Island Def Jam recently appointed Jermaine Dupri to head their brand new Island Records Urban Music Group division. Many thought that this hiring would wedge out Jay-Z, stating that they will have the same job and their egos are too big for both to be there. Dupri's longtime girlfriend, Janet Jackson, recently left her label Virgin and signed to Island. Columbia is the label of Jay-Z's longtime girlfriend Beyonce'.
With all of these factors, it is simple to see how the rumors were started. However, Jay-Z stated on Angie Martinez's radio show on New York's Hot 97 on July 27 that he was never leaving Def Jam and is remaining there.