For Damon Dash, it’s over almost before it began.
Dash’s new record label the Damon Dash Music Group – a joint venture with Universal Music’s Island Def Jam – has fallen apart, just three months after the deal was announced, The Post has learned.
Dash, the hip-hop mogul who was formerly partners with rap superstar Jay-Z – now president of Def Jam – in Roc-A-Fella Records, is close to ending his relationship with Universal.
At the same time, sources said Dash will “transition out of his management duties” at the fashion line Rocawear, which he owns with Jay-Z. Dash has been responsible for marketing and advertising at the fashion company.
According to sources, after signing the joint venture deal, Dash made demands for more money on marketing and promotion, and was constantly angling for an executive job within Universal – points that angered bosses at Island Def Jam and brought the two sides to the bargaining table last week to work out an exit.
A final parting of the ways is expected this week.
“He was demanding more money spent on him and more time and attention,” said one source close to the matter. “And he wanted a bigger role at the company.”
Dash and Jay-Z had been drifting apart for years, and sources say Dash resented his former partner’s rise to the top of Def Jam.
In his role at Def Jam, Jay-Z was responsible for overseeing the operations of Dash’s venture.
Dash took just two artists from Roc-A-Fella with him to his new venture – Nicole Wray and the legacy of Ol’ Dirty Bastard.
While Dash has plenty of other business interests to keep him busy, sources say other record companies are not lining up to be in business with him.
“The problem is, no one is courting him,” said a high-level music industry executive.
Dash also has interests in Arma-dale Vodka, ProKeds shoes and America magazine.
In December, Dash and Jay-Z went their separate ways after Universal Music bought out the remaining 50 percent of Roc-A-Fella it didn’t already own for less than $10 million.
Dash and Jay-Z formed Roc-A-Fella in 1995, and in 1997 the duo sold a 50 percent stake to Universal’s Island Def Jam for $1.5 million.
Island Def Jam, the largest hip-hop label in the world, recently scored a big hit with Mariah Carey’s new album, which debuted at number one. Other recent top-10 albums include releases from Beanie Sigel and 112.
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His hopes . . .
Damon Dash’s joint venture with Universal Music’s Island Def Jam appears to be over faster than Britney’s first marriage.