Jay Z Is Not Buying Hot 97, Station Owner Says

Theo Wargo/Getty Images for Global Citizen Festival
Jay Z performs onstage at the 2014 Global Citizen Festival to end extreme poverty by 2030 in Central Park on September 27, 2014 in New York City. 

You know that rumor that Jay Z is in negotiations to buy New York radio station Hot 97? Well, "That story is false."

Emmis Communications, owner of WQHT Hot 97, debunks the rumor by telling Hip-Hop Wired that it's not true.

Is Jay Z Buying Hot 97?

The story circulated the Internet after Hot 97's Funkmaster Flex ranted about Jay Z, specifically his website Life + Times. Life + Times reached out to Flex for an interview on his involvement with Dipset's reunion. Flex turned around and called the site "trash" and claimed that his ideas for his mobile app were stolen by Jay Z via a Life + Times interview and used for his Magna Carta Holy Grail Samsung app. In its original report, MediaTakeOut.com speculated that Flex's beef with Jay stemmed from Jay's involvement in a deal to buy the station with a group of investors, also including New York Knicks star Carmelo Anthony.

Hot 97's personalities Ebro, Peter Rosenberg and Laura Stylez had fun with the rumor and renamed the station Hov 97 on Tuesday.