EXCLUSIVE: Jay Z Leaving Def Jam To Form New Label With Beyonce!!

: Last week, MediaTakeOut.com reported that Jay Z and Beyonce are getting married. But it now looks like the two may have another partnership deal in the works. We’ve been told that later this year, Jay Z will announce he’s leaving his position at Def Jam to create a new “super label” with Beyonce.

In an exclusive interview, MediaTakeOut.com spoke to a key person involved in creating the new label. And according to that insider, the new label will launch early next year. Tells our insider, “It’s a done deal. [Jay Z] already has Beyonce and [Mathew Knowles] on board … She’ll be finishing up her contract [with Sony], and I expect that she’ll sign on to the new label shortly afterwards.”

Beyonce is scheduled to complete her final album under a deal with Sony this fall. The final 3 albums of the deal, B’Day (released September 5, 2006), B’Day Deluxe (released April 5, 2007) and a live album (to be released later this year), will have all been released within a year of each other.

It’s not clear yet which major label will house the new super label. But according to our insider, it’s not going to be Island Def Jam. The tipster explains, “Jay Z brought the idea to Def Jam first, but they thought he was asking for too much money.” The insider continues, “Now they’re shopping the deal around to the other majors and to Apple [the creator of iTunes] – who is very interested in doing business.”

But Def Jam may live to regret not dealing with Jay Z. MediaTakeOut.com has learned that some of Def Jam’s hottest acts may go with Jay Z to the new super label. Tells our insider, “Jay Z has a clause in his [Def Jam] contract that says he can buy the rights to any artist he’s signed – that would include Rihanna, Ne-Yo, and Nas.”

And the prospect of a new Jay Z – Beyonce super label has people over at Def Jam terrified. One of our insiders explains, “People here are shaking in their boots over this rumor … What do you think would happen to this company if Jay Z left and took Ne-Yo and Rihanna with him.”