Hip-hop mogul Jay-Z has taken part in some interesting and profitable deals in recent years, but his latest move -- currently just a rumor -- could prove to be the stickiest. Word on the street is that the rapper is planning to develop a record label with iPod creator Apple Inc. Whether fact or fiction, the partnership could rub the recording industry the wrong way. Record labels still fight over digital rights management ... thanks to iTunes.

The former president and CEO of Def Jam and Rocafella Records recently made news when he refused to give iTunes license to sell his 'American Gangster' album. The rapper claimed the iTunes format of breaking an album up and allowing customers to purchase singles would not work for his conceptual album. "As movies are not sold scene by scene, this collection will not be sold as individual singles," Jay said in a statement.

We'll see if the mogul changes his tune when/if he teams up with the music distribution giant.