Did Jay-Z sign a Record Label Deal with Apple

According to a report at BoyGeniusReport.com, Jay-Z is launching a record label with Apple.
Rumors of the collaboration have been running rampant for months and the popular BoyGeniusReport blog has reportedly confirmed the venture with a close confident of the former Def Jam President.
The blog says that Beyonce will not be formally involved and that Jay-Z is fully behind the proposed business model.
The official announcement is expected to be made at Macworld Expo 2008.
Jay-Z vacated his post as President of Def Jam at the top of 2008.
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