Jay-Z named president of Def Jam records\nLOS ANGELES -- Jay-Z, who has declared himself retired from his rap career, now has a new job to occupy his time -- president and chief executive of the Def Jam record label.\nThe appointment, rumored for months, was finalized with an announcement Wednesday by Antonio "L.A." Reid, the chairman of Island Def Jam Music Group.\nOfficials at the label declined to discuss terms of the agreement Wednesday. But a source familiar with the deal told The Associated Press the rapper signed a three-year contract valued at between $8 million and $10 million.\nThe ultimate value of the deal depends on whether the multi-platinum rapper can meet revenue and market share incentives, the source said on condition of anonymity.\nThe rapper, whose "The Black Album" was nominated for three Grammys Tuesday, will take the helm Jan. 3. He will also continue to run Roc-A-Fella records, which he co-founded with Damon Dash in 1995 after early efforts to obtain a record deal sputtered.\nDef Jam, which owned 50 percent of Roc-A-Fella, also announced Wednesday that it had wholly purchased the rap label, whose acts include the 10-time Grammy nominee Kanye West, Cam'ron and Beanie Sigel, who was recently sentenced to a year in prison.\nDef Jam acquired the remaining stake in Roc-A-Fella for about $10 million, the source said.\nWhile Jay-Z has declared his retirement from performing, he still owes Def Jam two albums and a greatest hits record, the first source said. The rapper is tentatively planning to release the greatest hits album with a few new tracks next summer.
Gunman opens fire causing 5 deaths\nCOLUMBUS, Ohio -- A gunman charged onstage at a nightclub and opened fire on the band and crowd, killing heavy metal guitarist "Dimebag" Darrell Abbott and three other people before a police officer shot him to death, authorities said.\nThe gunman had a hostage in a headlock and appeared to be preparing to kill him when the officer shot him in the face with a rifle, police and a witness said. The hostage escaped uninjured, spokesman Sgt. Brent Mull said.\nTwo other people were hospitalized. Police said one was in intensive care and the other was stable.\nPolice identified the gunman as Nathan Gale, 25, of Marysville, 25 miles northwest of Columbus. Police said they had no information on a motive or any connection to Abbott or his band, the Texas-based group Damageplan.\nDamageplan had just begun its first song at Alrosa Villa club Wednesday night when the gunman climbed onstage, started yelling and shot Abbott five or six times at point-blank range, witness Chris Couch said.\nMull said the gunman's exact statement was unclear because of the loud music. He said some witnesses reported hearing an accusation about Abbott breaking up his former band, thrash-rock pioneer Pantera, but police could not confirm whether the speaker was the gunman or a fan.\nPolice believe there were earlier threats against the band, Mull said. He declined to give specifics.
