Jay-Z And Steve Stoute To Run Ad Agency
"He left his day job at Def Jam; he has to do something," Stoute told the New York Times, in reference to his new business partner. Although the partnership seems like a natural fit now, with both Stoute and Jay-Z owning the majority stake of the company and serving as co-chairmen, many wouldn't have predicted the pairing a few years ago.
Stoute helped guide the career of Nas for the better part of the 90's, and Jay-Z's former Roc-a-Fella partner Damon Dash accused Stoute of taking subtle jabs at Jay-Z on several occasions. All that is now apparently irrelevant, as the two are expected to announce the Interpublic venture later today. Over the last five years, Stoute and Jay-Z have separately brokered deals with McDonald's, Budweiser, Belvedere Vodka and Reebok.
"If we sit in a room," says Jay-Z, "and offer our ideas of how to reach consumers, how to speak to them-and this is not a cocky statement-put us up against anything, and we'll win our fair share of battles."