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Beyonce’s father Mathew Knowles has issued a statement regarding her departure from his Music World Entertainment label.

While rumors are swirling that Beyonce dropped her father for her husband Jay-Z’s company Roc Nation, Knowles said the decision to end their relationship was mutual, although Destiny’s Child as a group, will continue with Music World Entertainment.

According to Mathew, he will concentrate on building Music World Entertainment’s roster of gospel artists, which includes Trin-i-tee 5:7, Brian Courtney Wilson, Juanita Bynum, Micah Stampley, Vanessa Bell Armstrong, Pastor Rudy and others.

“The decision for Beyonc? and Music World Entertainment to part was mutual,” Mathew Knowles said in a statement released today (March 29th).

“We did great things together, and I know that she will continue to conquer new territories in music and entertainment,” Knowles continued. “Music World will continue its partnership with Sony with Destiny’s Child and UK female group From Above, as well as management. We will also continue to develop the Music World family of labels: Music World Country/Compadre, Music World Kids and Music World Music.”

According to Knowles, Music World will no longer represent Columbia/Sony artist Tiffany Evans.

“Business is business and family is family. I love my daughter and am very proud of who she is and all that she has achieved. I look forward to her continued great success,” Mathew Knowles said.

At press time, it is unclear who will manage Beyonce Knowles’ career, although many feel Jay-Z’s company Roc Nation will pick up where Music World left off.

Roc Nation currently handles the careers for a variety of popular artists, including Rihanna, Jay-Z, Willow Smith, Melanie Fiona and Wale.

(-via AllHipHop)