Jay-Z announces plans for Translation Advertising

Ja-Z is now apart of another potential lucrative business deal and this time with longtime associate and friend Steve Stoute who founded Translation Advertising a few years ago and has been making hip-hop and corporate America marriages every since. Jay and Steve Stoute make up for %51 ownership of Translation. The other %49 is owned by Interpublic Group of Companies which is the 3rd largest advertising agency.

Here’s what Jay had to say about the venture….

“The title of the company says it all, translation. You know, a way to talk to corporate America and have them understand our voice, really. Not any satire or any type of way like that. Or people breakdancing in the store and things like that because that’s not what we do when we go look for a phone. We don’t walk into a store and hit the breakdance moves and things like that. It’s just a better understanding.”

Mediaoutrage-That’s real good business and it’s even better to see a man who came from Marcy Projects and then rose to become hip-hop’s biggest icon, continue to show the youth that there is life after rap and you can diversify into other avenues of business.

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Tyra Banks is launching another reality show

Little Oprah just keeps making moves. Tyra is launching another show in April.

The CW has green-lighted an untitled fashion-magazine reality series from Tyra Banks and Ken Mok, the duo behind the network’s No. 1 show, “America’s Next Top Model.”

The series has received an eight-episode order and will begin production in April for a launch in late spring or summer. The show, which the CW unofficially describes as “The Devil Wears Prada” meets “The Assistant,” is eyed as a potential companion piece for “Top Model.”

“It is a competition show about aspiring assistants looking to become assistant editors at a fashion magazine,” Mok said. “At the same time they’re trying to prove themselves as aspiring fashionistas, that they have a sense of style and savvyness, all the things to make it in the fashion world.”

In each episode, the contestants will compete in two challenges, an individual competition and a team competition, in which each squad will submit a page for “The Book,” a mock edition of the magazine. The losing team’s page will end up in the trash, and one of its team members will be eliminated. The page from the other team will be included in “The Book.” The winner of the competition will land a job in the fashion industry.

The producers are in negotiations with a real fashion magazine to host the contestants, and its editors will help judge the challenges.

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Oprah’s best friend Gayle buys posh manhattan penthouse for $7.4million

Gayle King who is Oprah’s BFF has purchased a $7.4million posh full floor penthouse apartment at Place 57 on East 57th Street. Gayle had been a long time Connecticut resident, so some are speculating whether her real estate purchase in NY has anything to do with her possibly running Oprah’s newest business endeavor.

Via Nypost:

“King’s full-floor sky palace has three bedrooms, 3½ baths, a large living room/dining area and a 768-square-foot wraparound terrace.

The spacious condo features soaring ceilings, two fireplaces, 360-degree views, a gourmet kitchen with Viking appliances and marble baths.

Amenities in the 36-floor glass building include a high-tech gym, children’s playroom, residents’ lounge and the likelihood of bumping into Winfrey when she’s in town.

“Oprah was very friendly and even took the time to introduce herself to the building’s employees,” said one insider after the media mogul recently appeared in the lobby.

King, the mother of two college kids, is a former TV news anchor and currently editor at large for O, the Oprah magazine. She is also expected to get involved with Winfrey’s new OWN television network.

Last year Winfrey and King went public to deny rumors that they were gay.

We hear that King is also in the process of buying a large apartment on West End Avenue for her children.”

Mediaoutrage– That’s dope that Oprah looks out for her best friend like that. Who wouldn’t look out for their homie if they were in the position that Oprah is in??? Like we can remember when Shaq said that he paid all of his homies to do different jobs for him like one to go to the mailbox and collect the mail. You’re supposed to help out your family and close friends when you are elevated to a status especially when you’re Oprah Winfrey one of the most powerful and wealthy women in the world. We don’t understand why folk would assume that they are lovers that doesn’t make sense to us. This woman is worth over $1.5 billion and made over $260 million last year, why wouldn’t she involve Gayle King (who stopped her from committing suicide before she ever became famous) in her lucrative business ventures.

Oprah leaves stedman out of her will???

MSNBC is reporting that Oprah recently made out her will and allegedly left out her longtime mate Stedman Graham. Here’s what they said….

“Fearing that her estimated $2 billion fortune would be squandered in the event of her untimely passing, Oprah Winfrey’s leaving nothing to chance. The talk-show titan recently prepared her will, and according to the National Enquirer, she’s left a significant someone out of it completely.

Charities and yet-to-be adopted children stand to benefit the most from the enormous estate, while Stedman Graham, O’s partner for the last 21 years, allegedly won’t see a dime.

Someday, Oprah plans to adopt three daughters and raise them alone, an insider told the Enquirer. “It’s something she has always wanted to do,” said the source. “There’s no talk of her adopting the children with Stedman — this is something she’s going to do by herself.”

Well that’s better than hearing that $2billion is going to her dogs.

 

The real reason Jay-z left Def Jam

Jay just didn’t have time to be President of Def Jam. Well a rep for Jay-Z had this to say…

“Jay is focusing on opening five more 40/40 clubs. He opened Las Vegas on New Year’s and up next are LA, Miami, Chicago, London and Houston. He’s also looking for hotel space in New York. He wants to open a chic, boutique hotel called The Jay. He just didn’t have time to be president of Def Jam. Mr. Carter is still considering several opportunities.”

Yep makes sense. Do your thing Jigga.

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Jay Z building a luxury hotel or high end art gallery?

Jay Z along with several other partners has reportedly purchased a $66 million site at 510 W. 22nd St. which runs through to 511 W. 21st St. in New York City. Jigga hasn’t yet decided what to do with the Chelsea property, purchased under the name “J Hotels”, but is considering turning it into either a swanky luxury hotel, or a high end art gallery. The property has the potential to reach 12 stories. 

Here’s what Jay had to say about rumors that money is the deciding factor on whether he renews his contract with Def Jam which is up at the end of this month.

“I don’t know [if I’ll be back], “We’ll see how it goes. But seriously, it’s not about money. That’s really the last thing. Of course, as a person that does these type of things and puts his heart and soul into it — and it’s effective, as the [Grammy nominations] would indicate — you want to be compensated for what you do. But it’s really not about money. It’s really about the future of the music business, and not wasting anyone’s time. I don’t ever want to sit in a seat just to sit in a seat. I could be off doing something else that’s beneficial to the future of the music business as well as myself. So it’s not about money! I mean, you couldn’t pay me enough. And I don’t mean that in a cocky way.”

Jay Z buys another clothing line!!!

His worldly empire just keeps expanding. Hov recently purchased high end clothing line Artful Dodger for a reported $15million in cash. Well his joint venture company with Iconix Brand Group, Inc, which is the same company that bought Roca-Wear, Scion LLC purchased Artful Dodger.

Artful Dodger was formerly owned by Sovereign State LLC and the brand is primarily sold in UK specialty stores and US boutiques.

“Artful Dodger is an incredible brand with a lot of room for growth and Scott Langton is a visionary designer,” Jay said via a statement. “They represent what’s next and new in fashion and we are glad to have both the brand and Scott as a part of our family. Artful Dodger represents the first of many acquisitions that will begin to shape our joint venture with Iconix.”

A great thing to see young black entrepreneurs continue to excel. Two weeks ago Diddy announced his 50/50 lucrative deal with Cirok Vodka, and now Jay picks up yet another clothing line that is sure to soar with a few noticeable mentions from him and other Jay wannabes.

Sohh