Yesterday night, we reported that rapper Freddie Gibbs could very well have been dropped by Young Jeezy’s CTE label, judging by tweets and various sources. This morning Freddie himself confirmed it during a radio interview and now, Jeezy has released a statement regarding the matter. Also in the press release, it was announced that his CTE label was moving to Atlantic Records, where Jeezy is currently Senior VP of A&R at. You may recall this is also where MMG moved to earlier today! Turns out, the urban division of Warner Bros. Records where they were housed is now defunct! Check out Jeezy’s statement below.

Marisa Mendez

“Freddie is a talented artist and I decided that it’s time to press reset on my career and business ventures,” Jeezy said of the move. “I have no doubt that Freddie will go on to be everything I believe he can be, and I wish him the best in his career.”

He went on to say, “This is a fresh start for the CTE brand as we re-launch it. This is why I chose to wipe the slate clean and create an outlet to support and nurture new artists to the best of my ability.”