Matthew Knowles Says Jay-Z's Not Managing Beyonce

Mathew Knowles still manages his daughter, Beyonce.

As previously reported, rumors recently spread that the superstar singer had terminated her dad as management and was now being managed by husband Jay-Z. Music World Entertainment, the company helmed by Knowles, wasted no time denying the rumors with a press release.

“Contrary to false rumors online, Beyoncé and her manager Mathew Knowles unequivocally have had and continue to have a close personal and business relationship," the release stated. "Mathew Knowles is the sole and exclusive manager of Beyoncé."