Legendary producer/Def Jam co-founder Rick Rubin is reportedly moving his American Recordings label from Columbia Records to Island Def Jam Music Group. Apparently Island Def Jam has purchased Columbia’s 50 percent stake in American to secure the entire back catalog and roster, which includes country legend Johnny Cash, multi-talented spoken word artist Saul Williams and heavy metal act Slayer, among others. Only rock/rap group System of a Down will remain with Columbia.

When asked if he ever saw himself ever getting back into producing hip-hop. “It may happen. It really just depends on the artist feeling the right thing,” Rubin said. “I work on whatever projects I really love, and I’ll say that there’s less hip-hop that I love now than there was 10 years ago, but there’s still some great stuff. I still hear shit that gets me excited, so I’ll always say anything’s possible.”

The first releases under the Island Def Jam deal are likely to be Williams’ Amethyst and newcomers American Head Change.

Rubin amicably parted ways with Def Jam and co-founder Russell Simmons in the 1980’s after signing such legendary acts as LL Cool J, Public Enemy and the Beastie Boys. His vast production work spans almost two decades and includes the groundbreaking 1986 single “Walk This Way,” which paired rap kings Run-DMC with Boston-based rockers Aerosmith.