When Fat Joe signed with Virgin Records, he did so because they promised not to interfere with him while he was in the recording process. His first two albums with the label were free of interference from the label and both albums had hits. However, with his most recent release, he and the label went through a dispute.
Once the album was finally released, Fat Joe made it no secret that he was upset with his label. It was then that the Bronx rapper declared himself a free agent. In the time since he announced the album and his displeasure, there have been rumors of places that he may sign to. Among those places are Def Jam, Murder Inc., and Cash Money.
Ever since he has been in the music industry, Fat Joe has been a member of a group that he called Terror Squad. In 1998, he turned the group into a record label of its own. Never before has Terror Squad been under an exclusive distribution deal. Usually, the roster of artists are spread out among various other labels. Fat Joe would work deals out with distribution labels for his artists.
For the past few years, though, Fat Joe has worked closely with Birdman and Lil Wayne. Currently, they are in the midst of a signing spree. The label has gone from being a simple imprint to the distributor of many other labels. Many artists who have been close to Birdman and Lil Wayne have ended up signing with either Cash Money or Young Money. This includes Bow Wow and probably Lloyd.
When Fat Joe signs to a new label, more than likely, that label will be Cash Money. Now that they put out music from other labels, Fat Joe may decide to work out an exclusive distribution deal with Cash Money for his own imprint label, Terror Squad.