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Written by Cyrus Langhorn
Friday, July 10, 2009 10:00:00

Hip-Hop mogul Shawn "Jay-Z" Carter is reportedly close to inking his first official book deal with Random House which would likely consist of three releases.

While an official statement has yet to be announced, online reports claim Jay's upcoming new venture is on the verge of approval.

Jay-Z is close to finalizing a book deal with the Spiegel & Grau imprint of Random House. The literary agent repping the rapper, Matthew Guma, had no comment, but sources say the book will consist of Jay-Z commenting on and telling the stories behind his lyrics. Sources said that when Mr. Guma originally approached editors and publishers earlier this summer, he was talking about doing a bundle of three books: One was going to be a traditional memoir, one was going to be a business book, and the third was the one that Spiegel & Grau ended up acquiring. When it will be published is unknown however the book will be edited by Spiegel & Grau executive editor Chris Jackson. (New York Observer)

Jigga was previously going to release The Black Book shortly after his Black Album dropped in 2003, however, the book never hit stores.

It turns out Jay-Z isn't going to share his life story with the world after all. The rapper signed a deal with MTV Books two years ago to publish his autobiography, to be co-written with hip-hop journalist Dream Hampton and called The Black Book. But once the book was finished, Jay apparently got cold feet and decided not to put it out: MTV Books confirmed that The Black Book has been pulled from its release schedule, per a request from Jay, who cited privacy issues. (MTV)

The rapper later explained his reasons behind not releasing the text.

"I know that people really want to know about me," he previously said in a statement. "I thought I was OK with it, but as it got closer and closer, I said, 'What am I doing?" (Rolling Stone)

Aside from the possible book deal and upcoming Blueprint 3 album, Jay recently made headlines for topping Forbes' Hip-Hop Cash Kings List 2009.

Hova raked in a reported $35 million starting in June 2008, from touring and other business ventures. Although his earnings were down substantially from last year's $85 million, he still managed to edge out fellow mogul Sean "Diddy" Combs, who came in at No. 2, with $30 million. Third place went to Kanye West with a respectable $25 million, earned through profits from his '808's and Heartbreaks' album and 'Glow In The Dark' tour. 50 Cent landed at No. 4 with approximately $20 million, a steep drop from $100 million in 2007. (The Boom Box)