Meek Mill and JAY-Z Join Forces to Launch New Record Label

Dream Chasers Records and Roc Nation form an official joint venture label.

Meek Mill and JAY-Z have joined forces for a new music business venture.

The rapper and mogul are launching Mill's new record label, Dream Chasers— a joint venture with JAY's  Roc Nation. The announcement was made during an interview with Gayle King on "CBS This Morning", Wednesday (July 24).

In the interview, they discuss why they think it's important to establish a legacy as entrepreneurs for the next generation of artists.

READ: JAY-Z and Meek Mill Just Launched a Criminal Justice Reform Organization

"I had offers to do a lot of business with other people, but the relationship we’ve built from [Roc Nation] believing in me through my whole career, through my ups and downs and the morals they showed to me and my team when it wasn’t in their best interest to have showed it," Meek said in a statement. "I feel comfortable going through this right here at home."

He added, "We’re ready to work. We’re just starting the beginning of a new chapter, a new page."

It's indeed a new page for Meek. According to The Associated Press, his 2008 conviction on drug and gun charges will be thrown out, and for the first time in over a decade, he won't be on probation.

Much to celebrate.

Watch an excerpt from the CBS interview above.