Jay-Z 'nowhere near' label move

Rap mogul Shawn 'Jay-Z' Carter has dismissed reports he is planning to leave his post as president of Def Jam records, insisting the media are too far ahead of themselves.

The rapper was rumoured to be in negotiations with Columbia - home to Carter's girlfriend Beyonce - following the appointment of superproducer/performer Jermaine Dupri as the president of the label's urban music division in February this year.