Rap mogul Jay-Z is to launch a brand new record label with computer company Apple, according to reports. The hit-maker, real name Shawn Carter, stunned the music world last month by announcing his decision to retire as Def Jam Records president.

Now the rapper is rumored to be going into partnership with the owners of music download service iTunes to become head of the company's hip-hop division.

Jay-Z's girlfriend, singer Beyonce, is not believed to be attached to the Apple deal.

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(This news article provided by World Entertainment News Network)