My previous post on the Damon Dash Music Group revealed my confusion about the business relationships, but it looks like that was an early, incomplete report from Billboard. Thursday’s press release from Island Def Jam Music Group clarifies that this is a joint venture with Island Def Jam and that Dash will also serve as a consultant for IDJ.

So it looks like the early reports from NY Daily News were correct. This looks really good for Island Def Jam. Not only do they get the benefit of new Dash projects but they also have Dash to maintain the loyalty of Roc-A-Fella acts.