50 Cent Leaves Interscope Records, Signs Independent Deal

50 Cent is venturing out on his own. After 12 years at a major label, the hip-hop mogul has decided to go independent.

The rapper announced on Thursday that he’s leaving his longtime label, Interscope Records and Eminem and Dr. Dre’s imprint, Shady/Aftermath.

He and G-Unit Records have signed a worldwide distribution and services agreement with Caroline, the independent label at Capitol Music Group, which is owned by Universal Music Group.

During his time at Shady/Aftermath/Interscope, 50 released five albums including his 2003 debut Get Rich or Die Tryin’, The Massacre, Curtis, and Before I Self Destruct, and sold over 30 million copies.

“I have had great success to date with Shady/Aftermath/Interscope and I’d like to thank Eminem and Dr. Dre for giving me an incredible opportunity,” said 50 in statement. “I’ve learned so much from them through the years. I am excited to enter this new era where I can carry out my creative vision.”

His mentor Eminem wished him well. “Both myself and Shady Records are grateful to have had the chance to play a part in 50’s career. Shady simply would not be what it is without 50 Cent,” said the Detroit rapper. “I’ve developed a great friendship with 50 over the years, and that’s not going to change. We know 50 will have success in his new situation, and we remain supporters of both him and G-Unit.”

Under the new deal, his first release will be Animal Ambition, due June 3. On March 18, fans will be able to pre-order the album and receive two instant tracks, while the videos will premiere online. An additional song and video will debut each week leading up to the album’s release.