I was alerted to this a while back by Menace from the Friday Night Live Show, but I didn't want to believe it was true. This is like my parents getting divorced, both in the sense that it signals the end of my childhood, and in the sense that it's actually fairly meaningless and will just serve as a convenient excuse for everything that goes wrong from here on out.
$habooty has the exclusive, based primarily on research conducted via Twitter. One of these rap magazines could have busted this hole wide open, like Robert De Niro in Raging Bull, but obviously they lack both his talent and his interest in Def Jux. The one time I recall seeing El-P in XXL was when I'll Sleep When You're Dead was mentioned in that tiny column at the end of the magazine, across from the pr0n mail order ads. And that was one of the best rap albums evar.
EXCLUSIVE: Def Jux Has Folded [Shabooty]