10/27/2004 at 09:00 AM EDT
"Retired" rap superstar Jay-Z may be thinking about a new job.
The Black Album hitmaker, whose real name is Shawn Carter, is in negotiations to become president of Universal Music Group's Island Def Jam label, the Associated Press reports. Discussions about the position reportedly have been ongoing for weeks, and a deal may materialize within a week and a half, if not sooner, a source close to the talks said.
Many artists eventually become record company executives, but the move is unusual for performers like Jay-Z, 33, who are still at the peak of their game.
Jay-Z has been a hit since he bust onto the scene in 1996, releasing some of rap's most influential albums, including The Blueprint and last year's Black Album. He is currently on tour with R. Kelly.
Island Def Jam has been without a president since Kevin Liles left the company in July.