After three years as Def Jam president, Jay-Z has recently been the subject of rumors that he may jump ship for Columbia Records. After all, Island Def Jam recently brought in Jermaine Dupri to head i

After three years as Def Jam president, Jay-Z has recently been the subject of rumors that he may jump ship for Columbia Records. After all, Island Def Jam recently brought in Jermaine Dupri to head its urban division. But in an interview today (Aug. 3) on New York radio station Hot 97, the rapper-turned-exec denied the scuttlebutt.

"My three year contract is up soon," he said. And though he hasn't renewed yet, he says he wants to. As for why his name has popped up in connection with Columbia, he opined, "I guess Rick Rubin is [at Columbia] and we've got a relationship. But I haven't talked to Rick since he started at Columbia. I called him to say congratulations. But I've learned to its leave the possibility open. Sometimes rumors spark real things."

Jay-Z also said he wasn't planning on making another album right now, though he's been popping up on remixes including Amy Winehouse's "Rehab." Further, he said he's looking forward to the Sept. 11 showdown between new albums from Def Jam's Kanye West and Interscope's 50 Cent.

"It's great for retail, the record business, the buying public [and] the Internet so they can have their debates on who's going to win," he said. "I have to bet on the home team. It's going to be a good fight, too."

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