Foxy Brown is moving on after being signed with Roc-A-Fella/Def Jam since 2004 without releasing her highly anticipated Black Roses album. The rapper's management, Black Hand, revealed Tuesday (August 14) that she has inked a deal with Koch Records, where she will release projects through her own Black Rose Entertainment.
Although the exact terms of the deal were not disclosed, label sources revealed it was a multi-million dollar negotiation that was signed after office hours. The first artist to drop through the new deal will be Foxy Brown herself.
Foxy will first release her highly anticipated street album, Brooklyn's Don Diva, later this year, which will be her first release since regaining her hearing.
"I have always been a symbol of independence as a female in music," explained the rapper. "My brand is already established, millions of my records have already been sold, and I have a fan base already loyal. After 13 years at Def Jam, I felt it was time as a matured business women to move on and continue my brand under the roof of something I own."
The first move as a label exec may be to sign some new talent. Foxy also hinted that she will be looking for new artists with a worldwide appeal because of her strong ties in the Caribbean music genre.
"Foxy is not only an incredible talent, but an entrepreneur with a vision," said Chaz Williams, of Black Hand Management. "She decided to move on to literally greener pastures, like money green. We are faced with a climate in music and new media where the independent is far more profitable. Ownership and partnerships are the new millennium record deals."
The first single from Brooklyn's Don Diva will hit radio within the next few weeks, and the album is scheduled for a December release, according to a rep from Black Hand.
"I have two albums of music recorded, and my fans have waited long enough, I'm back bitches," Foxy exclaimed.