JAY-Z will not be taking over as the manager of his wife Beyonce, according to a press release issued by Music World Entertainment. Recent rumours had suggested that the hip-hop mogul was set to begin representing the singer, replacing her father Mathew Knowles, but the press release reported by Peace FM Online, states, "Contrary to false rumors online, Beyonce and her manager Mathew Knowles unequivocally have had and continue to have a close personal and business relationship. Mathew Knowles is the sole and exclusive manager of Beyonce".

Despite recently forming a new management company, it seems JAY-Z is still busy with other side-projects, namely, recording with Kanye West. West is currently finishing his new album in the studio, but previewed a track featuring JAY-Z on his Twitter page this week. The rapper treated his followers to new song 'Monster' and also dropped hints that the pair would be recording more material, he tweeted, "Me and jay bout to drop a 5 song album called Watch the Throne".

JAY-Z is currently playing a series of sold-out shows with Eminem - the pair play at Detroit's Comerica Park on September 2nd and 3rd 2010, before appearing at the Yankee Stadium in New York City on the 13th and 14th.