Rumours have been circulating for some months now that Jay-Z alongside Beyonce, were to form a new super label in partnership with Apple.
It's thought the two artists were gaining interest from several major labels, but Apple - who were recently allowed to use the name for the sale of music, after a long dispute with The Beatles - were extremely interested.
According to the MacRumours.com site, they say that Moli.com is claiming that the deal is complete and an industry insider has confirmed the rumours.
Jay-Z will leave his job at Def Jam and takeover running the new label, while Beyonce is said to be finishing her contract with Sony shortly.With the rumours involving Apple, many suspect that the new label will concentrate solely on digital downloads instead of CD sales.
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