Warner boss denies Jay-Z label talks

Warner Music Group boss Lyor Cohen has denied reports he's in talks with hip-hop mogul Shawn 'Jay-Z' Carter to launch his own record label.

The rapper left his post as president of Def Jam Records in December after choosing not to renew his contract, and on Thursday, the New York Daily News claimed the star is currently in negotiations with Cohen - his pal and former CEO at Def Jam - to start the tentatively titled Carter Music Group.