Jay Z has eyes set on The Source
Posted on November 5, 2005 by Jamie Slaughter
The latest rumour surrounding Jay-Z involves an interest for him in taking over The Source magazine. It is believed that Jay-Z is interested in making a bid for the popular hip hop magazine.
Women's Wear Daily reports that Jay-Z, president of Def Jam, could be joining forces with Lyor Cohen, CEO of Warner Music Group and Stoute, who heads up his own company, Translation Consultation & Brand Imaging.
It may come as a surprise to some that the most recent reports ,from the magazine's chief creditor, note an approximate $16 million collection of debts.
XXL, a rival hip hop magazine is also interested in the take over of The Source to strengthen and broaden its empire over the hip hop community.
Jay-Z is currently in work with Reebok, and many advertsining campaigns are lined up with the brand.