Lil Wayne Signs New Deal With Jay Z

Lil Wayne dropped a bombshell Saturday that left fans simultaneously celebrating and speculating over what it could mean.

"I just signed a deal with my motherf--king idol, Jay Z," said the rapper, whose real name is Dwayne Carter, as he took the stage at KMEL Summer Jam.

The crowd erupted in cheers and rumors started spreading through the internet: Did this mean Lil Wayne was signing with Jay Z's Roc Nation label amid a long-running beef with his current label, Cash Money Records?

Not so, Lil Wayne's manager told Billboard. Lil Wayne was referring to his involvement with Tidal, Jay Z's music subscription service, Cortez Bryant said. Lil Wayne joined Tidal as a co-owner this month, according to Forbes, and dropped an exclusive new track "Glory" to celebrate.

"The Internet and blogs took his words out of context," Bryant told Billboard. "When Wayne was speaking about the partnership with Jay Z, he was speaking about his new deal as an artist owner with Tidal."

It's not exactly the collaboration some fans might have been hoping for. But Lil Wayne teaming up with Jay Z in any capacity is a big deal for a number of reasons.

For one, they're the two of the biggest names in hip-hop, responsible for dozens of Grammys and #1 hits between them. And, there's no shortage of mutual adoration -- despite that time Wayne once sang of kidnapping Beyonce. Lil Wayne told PEOPLE that Jay Z's "Lucky Me" is his favorite song of all time, so much so that he has "Lucky Me" tattooed on his neck and a verse of that song tattooed on his leg.

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Lil Wayne Wants Out Of Cash Money

If it seems like Lil Wayne 's upcoming album, Tha Carter V , has gotten caught in a holding pattern, that's because the rapper says it is. In a series of tweets , Weezy criticized Cash Money – the label that has released all of his albums and is home to the Young Money imprint he founded – likening his contract to a prison sentence. "To all my fans, I want you to know that my album won't and hasn't been released bekuz [label co-founder] Baby and Cash Money Records refuse to release it," he wrote. "This is not my fault. I am truly and deeply sorry to all my fans but most of all to myself and my family for putting us in this situation. "I want off this label and nothing to do with these people but unfortunately it ain't that easy," he continued. "I am a prisoner and so is my creativity. Again, I am truly sorry and I don't blame ya if ya fed up with waiting for me and this album. But thank you." A Cash Money representative did ...

Azealia Banks Says Rachel Dolezal Scandal Is Like a MADtv Skit

Yesterday, Rachel Dolezal appeared on the Today Show telling the nation, "I identify as Black." The former NAACP President of the Washington Chapter , has been enduring a media firestorm since the news broke that she has been falsely living her life as a Black woman. The often outspoken Azealia Banks, who isn't shy about utilizing social media to share her thoughts, hopped on her personal Twitter to reflect upon the whole Rachel Dolezal scandal. As the Harlem rapper started her dialogue, she asked, "Ok and this is it: why must one become a caricature of a black person to associate themselves with blackness/black institutions?" After letting people know she's been talking about this for years, she expressed some humor posting her thoughts on Rachel's chosen hairstyle, "LMFAO AT HER KINKY CURLY YAKI WIG THOOOOO OMGGGG." For more of Azealia's thoughts check out the slide and be sure to leave a comment with your thoughts.

Big Hutch Disses Shyne

Shyne bashing Kendrick Lamar's highly respected album, good kid, m.A.A.d city, has rubbed many people the wrong way. Fellow West Coast rapper Game already stepped up in Kendrick's defense on Twitter not too long ago, and now Big Hutch of Above The Law has chosen to defend Kendrick as well. Hutch spoke to Yahoo Music about Shyne using Twitter to slay Kendrick's new album by calling it "trash" over and over again. Hutch didn't respect that one bit and feels as though it was a "cowardly" move. "I don't really get that. I don't get Twitter bashing, Twitter banging. We don't do that. I'm an ex-con. I thought he was an ex-con. That's how that man eat. That's how Kendrick Lamar eat. So, for you to publicly say something is trash, that's just a hater move. got no issue with Shyne, but I have issue with cats Twitter bangin'. At the end of the day, c'mon gangsta, do it the right way. Come to one of his shows...

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