Record label executive ANTONIO ‘L.A.’ REID has rubbished reports of a rift between himself and Def Jam president SHAWN ‘JAY-Z’ CARTER, insisting he “really loves” the hip-hop mogul.

Reid – who serves as chairman of The Island Def Jam Music Group – appointed Carter president of the iconic label in 2005, but with his contract due to expire later this year, reports within the industry have been strife with talk of tension between the high-powered pair.

But Reid has laughed off the news and blames other labels for spreading the false rumours in the hope of splitting the successful working partnership, according to the New York Daily News.

He says, “We really love Jay. He’s so important to our company, there’s not much we wouldn’t do to keep him here, money being the least of them.

“Everything he does (outside the label) is a complement to our business. We encourage it.

“People at other labels may wish there was trouble. If you put the two of us in a room with an artist we want, we will sign that artist. It’s very hard to turn us down. I hope to work with him for many, many years. He’s magical. I need him.”

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