Per Yahoo UK ...

Jay Z and Beyonce are about to launch their own label, it has been claimed. The rap hero and pop superstar girlfriend are rumoured to be on the brink of announcing a deal with Apple, to front up a new branch of their digital music division. According to an industry 'source', the deal will see Jay Z, the current CEO of Def Jam, leave his position for a new role. It has also been claimed that not only will former Destiny's Child diva Beyonce be involved in the label, but also her father and manager Matthew. "It's a done deal. (Jay Z) already has Beyonce and (Mathew Knowles) on board", the 'source explained'. "She'll be finishing up her contract (with Sony), and I expect that she'll sign on to the new label shortly afterwards", he revealed. There has been no official confirmation about the reports at this stage.