Hip-hop mogul JAY-Z has blasted reports the delays in renewing his current record contract are being caused by arguments over his salary.
The rapper - real name Shawn Carter - is currently in negotiations to secure his attachment to Def Jam records, a subsidiary of Universal, but an agreement has yet to be reached.
Rumours of a label change have been rife in the music industry after Jay-Z was reported to be unhappy with Def Jam following the appointment of producer/performer Jermaine Dupri as the president of their urban music division in February this year (07).
But the star insists he is not holding out for more cash.
He tells MTV.com, "We'll see how it goes. But seriously, it's not about money. That's really the last thing. Of course you want to be compensated for what you do. But it's really not about money.
"It's really about the future of the music business, and not wasting anyone's time. I don't ever want to sit in a seat just to sit in a seat. I could be off doing something else that's beneficial to the future of the music business as well as myself. So it's not about money! I mean, you couldn't pay me enough. And I don't mean that in a cocky way." http://hollywoodhottestnews.blogspot.com/
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