JAY-Z and Meek Mill have teamed up to launch a new record label, Dream Chasers.
The Roc Nation chief and Meek, real name Robert Rihmeek Williams, sealed the deal on their new joint business venture, which is named after Meek's 2011 mixtape, on Wednesday.
Meek met with executives at Roc Nation's office in New York City and agreed a deal to serve as president, overseeing the label's artist roster, marketing plans, creative strategy, and other business operations.
In a statement to Variety announcing the new joint venture, Jay, real name Shawn Carter, said: "Everything that he's done leading up to this point shows he is ready to lead the next generation. We look at the big picture - this is way beyond signing artists and having hot records."
Hailing his new partner's eye for talent, he added: "I know he can make music - you've heard it. I think he cannot only make music, but make stars. Not only make stars but make films."
Meek, who hopes to open a recording studio for the label's new artists, also expressed his delight at joining up with hip-hop's leading business mogul.
"I think it's time for me to dive into the business. I'm 32 years old, I'm in a nice spot in the music business and I can help artists," he added.
The announcement came the same day the Going Bad hitmaker's 2008 conviction on a weapons charge was tossed. The conviction led to the Philadelphia rapper serving time behind bars in 2017 and 2018 due to parole violations.
However, evidence of alleged police corruption has emerged, leading to the original conviction being quashed. Meek may now face a new trial.
Following his release, he teamed up with Jay to create the REFORM Alliance to lobby for changes in laws and policies concerning parole and probation.
