It's now official: Nas is with Def Jam.
The long-rumored deal sets the stage for Nas to join the artist roster of Def Jam Recordings, the NY Times reports.

As part of the deal, Nas's longtime record company, Sony Music, and Def Jam will split the profits - or any loss - from his next two albums, the sources said. Def Jam is expected to lay out the cost of producing and marketing the recordings, and to divide the profits after recovering its expenses. The two music companies will jointly plan and oversee the albums' marketing campaigns.

The agreement pays Nas about $3 million, including a recording budget, for each of the first two albums, and provides for two additional albums with Def Jam, the sources said. Sony also retains the right to release a Nas greatest hits album, they added.

As a result of the deal, Nas's next album instantly becomes one of hip-hop's most anticipated recordings of the year. It is expected to include the first significant collaboration between two wordsmiths who long battled each other for the title of New York's best rapper.

Source: The NY Times