By GEORGE RUSH and JOANNA RUSH MOLLOY
Friday, March 23rd 2007, 4:00 AM
Have money and ego come between Jay-Z and L.A. Reid? Two years ago, Reid, chairman of Island/Def Jam, surprised the record industry by naming the hip-hop superstar as CEO of his Def Jam label. Some wondered whether the big-pimpin', Beyoncé-datin' rapper had the patience for corporate life. But not only did Hova look good in a suit, he showed up bright and early and promptly reestablished the division as an urban hitmaker, with young artists like Rihanna and Ne-Yo and his own album, "Kingdom Come."
Now, with his contract up at year's end, Jay wants more money - more, say sources, than Reid is willing to pay.
"Jay is asking for several million as a base salary," one insider tells us, "plus big bonus 'bumps' on records that do well. L.A. isn't going for it. They're miles apart."
Reid is said to question how much time Jay plans to spend in the office now that he's emerged from rap "retirement" and is touring again. Among Jay's other distractions are his chain of 40/40 nightclubs and stakes in Rocawear, the New Jersey Nets and a Champagne company.
Insiders also claim the charismatic Reid, the guy who's supposed to be boss, feels like a second banana. "When Jay walks into a meeting, he sucks the air out of the room," says a spy. "Even without trying. At the Rock and Roll Hall of Fame awards, Jay and L.A. were sitting at the same table. But it was like L.A. was invisible."
Reid laughs off talk of tension. "We really love Jay," Reid tells us.
"He's so important to our company, there's not much we wouldn't do to keep him here, money being the least of them."
As for Jay's outside businesses, Reid says, "Everything he does is a complement to our business. We encourage it.
"People at other labels may wish there was trouble," he goes on. "If you put the two of us in a room with an artist we want, we will sign that artist. It's very hard to turn us down. I hope to work with him for many, many years. He's magical. I need him."
SOURCE:
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