The rumor mill ran off the tracks the past few days with speculation that Jay Z joined a group of investors that included Carmelo Anthony (what else is he going to do now that the Knicks are so bad) to buy major New York City hip-hop radio station Hot 97 from its parent, Emmis Communications after he was attacked on air by popular and influential host and DJ Funkmaster Flex. This rumor, which came from homophobic gossip blog MediaTakeOut.com who vehemently defended their "rock solid source," has proven to be very false. We reached out for comment and a spokesperson for Emmis Communications, Kate Snedeker, denied the story, stating plainly, "it is false."

The power move many had hoped for in the Jay Z vs Funkmaster Flex beef is not happening. It was too good to be true and a little too timely.

The beef started when Funk Flex went on an explosion laden rant on Hot 97, where Flex called out Jay Z and his website Life & Times for being "trash," stealing info from him to build an app and texting him in all caps.

"Let me be clear, because I read through everything in that email that was sent to me, I don't care about your website," he said to Jay. "Your website's trash. Y'all can't move with me in this digital space. Maybe if y'all copied everything I was doing with the app, your app wouldn't have crashed the day your album dropped. Don't play with me. I didn't take no sides in that situation. Play me like I'm stupid and you're gonna see a different kind of dude firing off on you. I let you live in this town, don't think I can't ruin you."

Flex had some fun with the story and opened his radio show yesterday by introducing Hot 97 as HOV 97, an ode to Jay 97. The story is probably dying down for now, but it has been entertaining while it lasted. Flex promised he could destroy Jay Z if he wanted, but since HOV has not commented on the ordeal, it would seem a little unsporting to continue the fight. Listen to the "HOV 97" opening below.

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