Last night we received word that Jay Z and Beyonce may be planning a huge joint tour this summer, but of course, Jay has more than just that on his plate. The rapper will be kicking off the third "Made In America" festival this summer, and although the last two went down in Philadelphia, this year Hov is branching out to a larger city, and reportedly moving the festival to Los Angeles.

Last year's festival saw performances from the Black Hippy crew, Beyonce, Wiz Khalifa, Macklemore & Ryan Lewis, and plenty more. This year, with things moving to L.A., we can probably expect an even bigger line up. Word is that the event itself will go down in L.A.'s Grand Park, making it the first of its kind to happen in the city's downtown area.

Hova is expected to make an official announcement about the event today, alongside Los Angeles Mayor Eric Garcetti at City Hall at 12:30 PM ET.

We will keep you posted.

[via MTV News]

[Update: Details Announced]

Jay Z announced the details of the 2014 Made It In America festival during a press conference today, and while the rumors that the festivities would take place in Los Angeles were in fact correct, Jay confirmed that the festival will also take place in it's original Philadelphia location at the same time.

The festival is scheduled for the weekend of August 30-31st, and will be hosted both in Los Angeles' Grand Park, and Philadelphia's Ben Franklin Parkway.

Hov explained his decision to bring the fest to L.A. during his announcement

"I'm puttin' together a music festival that blurs those lines of genre," he said. "All walks of life and all people can come and it's in the city. It's not in some far off place that you can't get to. No disrespect to any other festivals. No shots. But in the middle of the city, look how beautiful this park is. It's accessible to everyone. It's inclusion. It's not exclusive. It's not something that's far away...We started two years ago in Philadelphia and had huge success and I'm sure we'll have even more success in Los Angeles."

Concerns have already arisen due to the rapper's choice to put the festival in the middle of the city, with Councilman Jose Huizar suggesting the 50,000+ attended show could be a "nightmare" for residents of the area.

Tickets for L.A. are set at $155, whil the Philly show will run you $117.