Ashanti has been dropped from Irv Gott's record company because her relationship with the rap mogul has "run its course."

Ashanti was the biggest name on Gotti's Murder Inc. label, but he has confirmed he's set to drop her - because he has little to do with the singer/songwriter's career and life anymore.

He tells MTV News, "Our relationship has run its course. We're in two totally different places. We don't really speak or talk and it's sad, but, in another way, it's like its all good... She needs some guidance, but she's not thinking that."

Ashanti recently announced she'd be making her Broadway stage debut this summer as Dorothy in a revival of The Wiz. It is not known if this project has anything to do with Gotti's decision to drop his star.

See more photos of Ashanti here!

(This news article provided by World Entertainment News Network)