Rumors have been flying wild recently that Jay-Z has left Def Jam, the label that made him an artist and a president.

Jay reached out to RapRadar.com, the site owned by YN, one time editor of XXL, to let fans know what the story is.

“I can honestly say, working with Doug Morris and LA Reid has been a unique and fulfilling experience and I respect them immensely. I’ve been in the family for almost my entire career.

Doug and I spoke directly and had one of the most unique “negotiations” ever. Doug won the toss but, we both won in the end..

I thank him for allowing me to be a completely independent artist. Not every artist can say they own or are given the opportunity to own all of their music.”

YN: What is this coin toss about?

Hov: That takes a phone conversation, I’ll save it for our interview… classic.

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