Jay-Z No Longer Owns Brooklyn Nets, Lil Flip No-Shows Hearing & More

Jay-Z will be gracing the cover of Time's 100 Most Influential People in the World, in an article written by New York's Mayor Bloomberg. "Jay-Z embodies so much of what makes New York New York,: Bloomberg writes. "A kid from a tough neighborhood who grows up in public housing, overcomes lots of bad influences on the street, never lets go of his dream, makes it to the top - and then keeps going, pursuing new outlets for his creativity and ambition." [HipHopDX]

After a very short, but influential stint, Jay-Z is no longer a minority of the Brooklyn Nets. "y job as an owner is over but as a fan it has just begun. I'm a Brooklyn Net forever," the aspiring sports agent said in a prepared statement. [SI]

Lil Flip, who was arrested on Christmas for speeding, possessing weed and an AR-15 rifle, apparently no-showed at his hearing yesterday morning (April 18), and a warrant has been issued for his arrest. C'mon Flip. [TMZ]

French Montana has confirmed a weed-inspired collaboration with Miley Cyrus. "That's my dog. That's my peoples. We became friends at the Clive Davis Grammy party. I was sitting there with Puff. She was sitting there with Wiz [Khalifa]. She just kept looking at me laughing, I kept on looking at her laughing. I said, 'What you laughing at?' She said, 'I know you high like me.' After that, we became mad cool. I went over to the studio, just kicking it." [RapFix]