Jay-Z stepped down as CEO of Def Jam because it didn't pay enough. (Instead, he wants to open a boutique hotel called The Jay.) Amy Fischer is D.J.-ing tonight at Retox, and her sex tape will be on display. Justin Timberlake and Alpha Dog co-star Amanda Seyfried left the Pink Elephant after just fifteen minutes. VH-1 exec Michael Hirschorn, wife and St. Martin's editor Elizabeth Beier, New York Times scribe Bob Morris, and agent Ira Silverberg spent New Year's Eve at the Mexican villa once occupied by Pablo Escobar. There are a bunch of historical inaccuracies in Denzel Washington's The Great Debaters, namely the fact that Harvard was not involved in the real-life proceedings. Jennifer Lopez and Marc Anthony are supposedly expecting twins: one boy and one girl.
The true story of what is going on with Jay-Z at Island Def Jam seems to be unfolding in the gossip pages. Murmurs that the hip-hop impresario was set to leave the label have been buzzing since last year. In July, Ben Widdicombe's "Gatecrasher" column reported that "he is in negotiations to jump to rival Columbia," citing this year's appointment of Jermaine Dupri to head up Island's Urban group as one cause of strife. At that point, it looked like it was all Jay's idea to look for a new job. But now, in "Rush & Molloy," we learn that maybe the Island Def Jam brass aren't that happy with their 2005 hire:
Island/Def Jam CEO L.A. Reid and his boss, Doug Morris, are said to have found Jay's demands "excessive" in light of the time he's been spending on tour. "People have lost count of how many times he's come out of retirement," the source says. "Everybody knows he's not around the office much. Everybody at Universal loves him, but they can't justify paying him the money he wants when so many people have been laid off." His contract is said to expire at the end of this month. Friends of the rapper, who last night was celebrating his 38th birthday in Paris, scoffed at claims that Reid and Morris had thrown in the towel.