UPDATE: Jay-Z is set to headline a two-day festival in Philadelphia, Pennsylvania this summer.
When Jay-Z has planned announcements in the past, momentous occasions such as squashing his beef with Nas have occurred.
So it is with baited breath that Hip Hop await his next one, scheduled to take place at 10:30 AM on Monday (May 14).
According to Roc Nation, Hov will join Philadelphia Mayor Michael Nutter atop Philadelphia's Art Museum steps to make a "Major Announcement."
No further details have been released, though the Philadelphia Daily News' speculation that Jay would reveal that he was performing with The Roots during the July 4 Wawa Welcome America! Festival concert was apparently repudiated. The two acts collaborated on stage for Jay-Z's MTV Unplugged 2.0 performance in 2001.
UPDATE: A stream of the press conference that took place this morning has been released (via RapDose).