Jay Z -- LAPD Kills Extortion Investigation Over $20 Million Master Recordings

Solange isn't the only person Jay Z's tired of fighting -- outside court anyway -- TMZ has learned, the rapper's camp is no longer pursuing criminal extortion charges over $20 million worth of Jay Z songs ... and the Beverly Hills PD has closed its investigation as a result.

TMZ broke the story ... producer Chauncey Mahan was detained by police last month after Jay's people accused him of stealing the master recordings for several big Hova songs back in 2002 -- and then trying to hold them ransom ... for a $100,000 "storage fee."

LAPD confiscated the recordings pending the result of a criminal investigation, but law enforcement sources now tell us, Jay Z's camp has decided NOT to pursue extortion charges. As a result, BHPD will no longer be investigating. Case closed.

But the tale of the tapes isn't over -- we're told the LAPD -- which took possession of the tapes a few weeks ago -- will continue to hold on to the recordings until a civil judge tells them to do otherwise.

Now here's Solange punching Jay Z again.