The Old Music Industry Is Dead: Apple Launching Record Label With Jay-Z

Looks like there might another major announcement at MacWorld. BGR says they've "confirmed" that Apple is launching a record label with Jay-Z, who's set to step down from Def Jam. Jay-Z and Jobs are both brilliant businessmen, and the move would make sense on a number of levels: The labels almost view iTunes as a competitor now, the industry landscape is rapidly transforming, and whoever finds the magic formula for a new kind of label/distribution firm stands to make a lot of money as they establish the new paradigm of the industry. And iTunes already is something like a label. This could be megaton big, if the rumor is true. [BGR]